I'm a U.S. person with a 60% interest in a foreign partnership. Do I need Form 8865?
I'm a U.S. citizen and I have a 60% interest in a partnership organized in Germany. The partnership operates a consulting business there. I've been reporting my share of income on my Form 1040 but was told I also need to file Form 8865. Is this similar to Form 5471 for foreign corporations? What are the filing requirements and penalties?
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