How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28081
Experience:  Taxes, Immigration, Labor Relations
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

I own 913 shares of LYB stock. It is a Dutch company (foreign)

Resolved Question:

I own 913 shares of LYB stock. It is a Dutch company (foreign) traded on the NYSE. The total value on 12/31/12 was about $29663.37 and the peak value in May was $43,933.56.

Reading the instructions for form 8938, I conclude since I file joint return that I do not need to file the form. Confirm?
Submitted: 4 years ago.
Category: Tax
Expert:  Lev replied 4 years ago.

Hi and welcome to Just Answer!

First of all on form 8938 you are reporting foreign financial account - not foreign assets.

Thus if your 913 shares of LYB stock are held with the US broker - nothing you need to report.

If however you are holding shares in the foreign brokerage account - then such account is reportable.

In additional - you are required to file the form 8939 only if your total value in foreign financial accounts is above $50,000.

If that is only your foreign account - and the value is below $50,000 - no need to file form 8939.


So far based on information provided - you are not required to file form 8939.

Let me know if you need any help.

Lev and 3 other Tax Specialists are ready to help you
Customer: replied 4 years ago.
I do not need any more help
Expert:  Lev replied 4 years ago.

Please be sure to bookmark this page for future reference.

You might want to come back later.