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    ldmack3's Avatar
    ldmack3 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 1, 2009, 02:58 PM
    Foreign 2nd home and foreign bank
    We own property in China financed by a bank in China. Do we still need to file the 1042?

    And how d you figure the rate of exchange? By the month when paid?

    Thanks!
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 1, 2009, 11:23 PM

    For what purpose do you think you will file Form 1042?
    ldmack3's Avatar
    ldmack3 Posts: 2, Reputation: 1
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    #3

    Feb 2, 2009, 04:53 PM
    From an older post on a similar question it seemed there were instances where this form was neded. Perhaps when the bank was in the US and the property out of the country.
    Are there any forms that need to be filed?
    Thanks
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