Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

Tax question. For the FBAR, is it okay to check that the max…

Tax question. For the FBAR, is...
Tax question.
For the FBAR, is it okay to check that the max value of the account is unknown?
Show More
Show Less
Ask Your Own Tax Question
Answered in 3 minutes by:
3/27/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,276
Experience: Adjunct Professor
Verified

Hey! I'm Carter, I'm a CPA and can help you out with this.

Yes, that is fine to check the unknown box. It does not set off any flags. If you do know the amount, you should disclose it.

Let me know if you need anything else. If not, please leave a rating. Thanks!

Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,276
Experience: Adjunct Professor
Verified
Carter McBride and 87 other Tax Specialists are ready to help you
Ask your own question now
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a tax professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Carter McBride Your Own Question
Carter McBride
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,276
1,276 Satisfied Customers
Experience: Adjunct Professor

Carter McBride is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
I have a question on for 8938. Form 8938 part i line 2..does
Form 8938 part i line 2..does it ask to sum up max values of all accts even if this means double counting if a value was moved from one acct to another? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,494 satisfied customers
I'm a U.S. citizen who received less than $100,000
I'm a U.S. citizen who received less than $100,000 inheritance from my deceased father (in England) years ago. Since then, the inheritance has been in a personal bond in England. What would be the bes… read more
Tax.appeal.168
Tax.appeal.168
Principal
13 satisfied customers
I would like to know the following re FBAR reporting. Could
Hi, I would like to know the following re FBAR reporting. Could you help? … read more
Lev
Lev
Retired
Bachelor\u0027s Degree Equivalent
27,134 satisfied customers
I own 26% of shares in a French SCI, I also have money invested in current account in the
I own 26% of shares in a French SCI, I also have money invested in current account in the company... should they be reported on the FBAR… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I'm trying to file my company's FBARs (FinCen form 114). In
I'm trying to file my company's FBARs (FinCen form 114). In 2014, some of our foreign subsidiaries sold land in Canada. Our closing attorney in Canada received the sale proceeds on our behalf into a l… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
FBAR Question: Are best estimates of highest account balance
FBAR Question: Are best estimates of highest account balance for a given account in a give tax year acceptable to FinCen? We are filing Streamline Offshore documentation and doing our six years of del… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
47 satisfied customers
Hello, I am currently teaching english abroad in another
Hello, I am currently teaching english abroad in another country. Yet every month I am sending in approx $1K (equivalent of a foreign currency) from my foreign bank account into my US bank account via… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Megan, I have another question, regarding reporting of the
Megan, I have another question, regarding reporting of the offshore accounts, if my dad is married and he and my mom have a joint account doe he need to report that as well or is that an exception?… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
I have a home equity loan account; monthly payments being made
I have a home equity loan account; monthly payments being made from my primary debit/checking account in my foreign bank where I live. Are home loan/equity bank accounts a re-portable foreign bank acc… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
609 satisfied customers
I have a client who is a US citizen with a foreign bank account
I have a client who is a US citizen with a foreign bank account in Ireland with a balance of approximately 50,000 euros and a foreign pension based in the UK from which she receives a distribution tha… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
47 satisfied customers
A question about the FBAR. I have the following types of
A question about the FBAR. I have the following types of assets: 1) checking accounts owned by me only; 2) checking accounts owned jointly with my wife (who is not a US citizen); 3) a company checking… read more
Dr. Arthur Rubin
Dr. Arthur Rubin
Doctoral Degree
173 satisfied customers
If I have a small final salary pension that the pension company
If I have a small final salary pension that the pension company says will provide me a pension of $3,000 per annum from the age 60, what is the current value of that pension today?… read more
Dr. Arthur Rubin
Dr. Arthur Rubin
Doctoral Degree
173 satisfied customers
Hello, I am a US citizen (also a UK citizen) residing and
Hello, I am a US citizen (also a UK citizen) residing and working solely in the US. I feel very stupid right now as I realized I missed the IRS FBAR deadline of June 30 to declare an overseas account … read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
I am a US resident living overseas in Singapore. My company
I am a US resident living overseas in Singapore. My company has been investing on my behalf in a retirement-type fund (something like a 401k but not government sponsored), which I now have to claim an… read more
Shane-CPA
Shane-CPA
CPA, PFS, CGMA
1 satisfied customers
I dont know if this question makes any sense. I live in the
I don't know if this question makes any sense. I live in the Netherlands,am retired military so I get a pension.I every year I have sent in a 1040A for the pension(married filing jointly).My wife is a… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master\u0027s Degree
3,104 satisfied customers
I was having my taxes do on the base here,thy are IRS trained
I was having my taxes do on the base here,thy are IRS trained volunteers, for this year.Gave all the paperwork my dutch stuff and US stuff.Okay when they got done all I had wa a 1040A and schedule B s… read more
Lev
Lev
Retired
Bachelor\u0027s Degree Equivalent
27,134 satisfied customers
I filed my taxes for 2011 and have already received my refund.
I filed my taxes for 2011 and have already received my refund. I overlooked one thing. In August 2011 I set up an account with goldmoney.com and purchased gold and silver through them (they hold the g… read more
Charles Markham
Charles Markham
Principal
Masters Science Taxation
755 satisfied customers
I am backfiling FBARS. I am a US citizen and living in Canada.
I am backfiling FBARS. I am a US citizen and living in Canada. I do not have information on one savings account I had in 2003-2005. I did not keep up a passbook, and I did not retain ATM slips. I call… read more
Tax.appeal.168
Tax.appeal.168
Principal
13 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x