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    aabboud's Avatar
    aabboud Posts: 4, Reputation: 1
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    #1

    Mar 30, 2012, 03:01 AM
    Do I need to file Form 8938?
    Dear,

    I am physically present in a foreign country for the entire 12 month (Jan. 1st, 2011 - Dec, 31, 2011) and still to date. I am married filling jointly Forms 1040 and F2555 and 540NR and CA (540NR). Do I need to file form 8938 if our foreign fanacial assets are bbetween $10,000 and $200,000? Appreciate your help. Thank you. Antoine
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Mar 30, 2012, 09:25 AM
    If you case you file Form 8938 only if your foreign assests are more than $400,000 on the last day of tax year or more than $600,000 any time in the tax year.
    aabboud's Avatar
    aabboud Posts: 4, Reputation: 1
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    #3

    Mar 30, 2012, 09:35 AM
    Thank you Mukata for answer. Just to confirm that I understood well your answer, based on the info that provided you I don't need to file form 8938 since the threshold is way below the quota and since I am physically present in a foreign country for the entire 12 months therefore I meet the physical presence test. Please confirm and thank you again.
    aabboud's Avatar
    aabboud Posts: 4, Reputation: 1
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    #4

    Mar 30, 2012, 09:43 AM
    Dear Mukata,

    Last question. Do I need to file any form other than Forms 1040 and F2555 and 540NR and CA (540NR)schedule when living abroad? Appreciate your help. :-)
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