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  1. #2
    Join Date
    Jul 2007
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    Florida
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    2,344

    Default Re: Business Owner (LLC on H1 and H4 Visa) Allowed to Claim Loss/Profit 1040 Schedule

    A multi-member LLC cannot file its tax return on a Schedule C. It can only file on a 1065 partnership return or a corporate return. S corp status is not available to foreign nationals.

    I'm not an expert on immigration or visa status, but I believe an H1B visa holder can only work for the sponsoring organization, not anywhere they like. So anything that smacks of self-employment might cause visa problems. Partnership income is typically considered self-employment income. You can certainly invest. The best avenue would seem to me to be a C corporation and hiring someone else to run it.

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