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In case of a foreign inheritance in equal parts to 4
In case of a foreign inheritance in equal parts to 4 children, in which the process takes till the following year to start releasing bank funds to the 4 children, is the year that Form 3520 and 8938 n… read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,657 satisfied customers
Sorry, wasn't actually asking about FBAR, poor wording.
sorry, wasn't actually asking about FBAR, poor wording. based on the sentence I pasted below, it would seem the account value (inherited/3520) would make it still reportable on the 8938? "Even if a sp… read more
Tax.appeal.168
Tax.appeal.168
Tax Accountant
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I had 150k in china bank account 2 years ago. I forgot to
i had 150k in china bank account 2 years ago. I forgot to add this to my last year's tax return. The money i put in that account i lost 50k in the past two years. So my question is:1. do i get penalty… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,408 satisfied customers
Second opinion] I am planning to do Streamline Domestic
Second opinion] Hello-I am planning to do Streamline Domestic Offshore. And I have 2 questions:1-Does this require precleance? (I ask because my attorney wants to do it even though I am reading that i… read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,657 satisfied customers
I am planning to do Streamline Domestic Offshore. And I have
Hello-I am planning to do Streamline Domestic Offshore. And I have 2 questions:1-Does this require precleance? (I ask because my attorney wants to do it even though I am reading that it's not required… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,408 satisfied customers
I bought a land 20 yrs ago in a different country before I
I bought a land 20 yrs ago in a different country before I moved to US and became a citizen. at that time the country had a lower exchange rate against US dollar compared with current exchange rate (1… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
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I am an Indian citizen working in USA on H1B visa. In India
I am an Indian citizen working in USA on H1B visa. In India I have Regular Savings Bank Account as well as NRE account (Incomes from abroad, i.e. USA are transferred to these NRE Accounts, and are non… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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My mother passed away last year, and soon the probate on her
My mother passed away last year, and soon the probate on her estate will be complete. I am working in the US on a H1B visa, and my mother was never a US citizen or green card holder. I will be inherit… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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US Tax: Foreign life insurance policies: What all forms I
US Tax: Foreign life insurance policies: What all forms I need to attach with my return and how to calculate and report any income/interest etc. from those, if I have foreign life insurance policies? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,657 satisfied customers
I have been doing a friend's (now a U.S.resident) taxes with
I have been doing a friend's (now a U.S.resident) taxes with Turbo tax for two years. He is from Algeria. I never asked if he had any foreign accounts, because I knew him as being poor. I just found o… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
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, I am New Zealand citizen and US green card holder. In 2010,
, I am New Zealand citizen and US green card holder. In 2010, I made 2 term deposits 50,000 NZD each in a bank in New Zealand. These term deposits will mature in 2015. Can I include the interest from … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,905 satisfied customers
Yes, I have just realized that the form 3520 exists and I should
Yes, I have just realized that the form 3520 exists and I should have filed it last year. I'm unsure on how to proceed.… read more
Tax.appeal.168
Tax.appeal.168
Tax Accountant
7,261 satisfied customers
I inherited a property in Germany in 2012 and sold it in 2013.
I inherited a property in Germany in 2012 and sold it in 2013. I am declaring a foreign bank account on my tax return (form 8938), but just discovered the existence of form 3520, that I was not aware … read more
Tax.appeal.168
Tax.appeal.168
Tax Accountant
7,261 satisfied customers
Morning Lev, I have a few questions regarding foreign partnership
Morning Lev, I have a few questions regarding foreign partnership investment disclosure and reporting: Form 1040 was filed in 2011 and 2012 without disclosure of investment in a foreign partnership. M… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,905 satisfied customers
My wife of 40 years and a foreign national, left a bank account
My wife of 40 years and a foreign national, left a bank account in her homeland which contains a large sum. Last year (2011) I formally became the inheritor. This money is locked in a 6 year CD which … read more
winktax
winktax
Enrolled Agent
Master's Degree
425 satisfied customers
1) I am an Indian Citizen having US Green Card and working
1) I am an Indian Citizen having US Green Card and working in USA . I wanted to start some saving on monthly basis out of my after tax pay check every month . So i just opened a Recurring Deposit Bank… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,905 satisfied customers
I and my spouse file taxes as married filing jointly . I work
I and my spouse file taxes as married filing jointly . I work as online Spot Forex Trader and this is the only source of my earning , whereas my spouse works on W2 as a salaried employee of some compa… read more
USTaxAdvising
USTaxAdvising
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Bachelor's Degree
1,099 satisfied customers
I have been workin with John Gordos from this site, but I will
I have been workin with John Gordos from this site, but I will reiterate my question as I have not as yet gotten a satisfactory result. My fath-in-law passed away on 9-11-08. All his bills are paid in… read more
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Merlo
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