What form is used by a U.S. corporation to "check the box" to elect the U.S. tax consequences of forming a hybrid entity outside the United States?
A)Form 1118
B)Form 1120
C)Form 8832
D)Form 8833

Question

Quizplus · Accepted Answer

Form 8832 is used by a U.S. corporation to elect to be classified as a disregarded entity or a partnership for tax purposes. This form can also be used to elect the U.S. tax consequences of forming a hybrid entity outside the United States. Form 1118 is used to calculate the foreign tax credit, while Form 1120 is the U.S. corporation income tax return. Form 8833 is used to disclose treaty-based positions taken on a tax return.

What Form Is Used by a U