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Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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I own 913 shares of LYB stock. It is a Dutch company (foreign)

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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: 5 years ago.
Category: Tax
Expert:  Lev replied 5 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 other Tax Specialists are ready to help you
Customer: replied 5 years ago.
I do not need any more help
Expert:  Lev replied 5 years ago.

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