Ask Experts Questions for FREE Help !
Ask
    ns44000's Avatar
    ns44000 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 3, 2012, 11:26 PM
    I'm a resident of US. The question is to check if I qualify to fill the 8938 form?
    I'm a resident of US. THe question is to check if I quality to fill the 8938 form?

    I'm married and filing jointly.

    I have bank account, mutual funds and receive rental from property (House) abroad. The total value of Bank Interest, Mutual fund dividends and rental is about $15K. This amount I did not bring to USA. Still, I have shown the rental & bank interest in the 1040 form as advised by one of tax consultant.

    The question is should I also include value of the house and value of the Mutual funds (then it exceeds $100K). As well to check if I qualify to fill 8938 form?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 9, 2012, 01:48 PM
    You do NOT have to file Form 8938; the amount of your foreign accounts, in aggregate, are not high enough.

    But you DO have the file the FBAR (Form TD-F 90-22.1); see the link below.

    http://www.irs.gov/pub/irs-drop/a-10-16.pdf (FBAR policy)

    That is a separate form, with a separate filing deadline (which, by the way) CANNOT be extended.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Doubt regarding to fill which form Resident/Non resident/Dual Status tax form [ 1 Answers ]

Hi, I have a doubt regarding filing the tax form for 2010 year. I had been on F1 OPT from Jan 2010 to Dec 6th 2010. Later I moved to H1B status from Dec 6th 2010. Do I need to file, Non resident form or Resident form or Dual Staus filing form.

What form need to fill for non resident income earned? [ 2 Answers ]

Hi All, This is JO... I need a clarification on this: A person has incorporated a company in Netherlands and earning income through investments, some investments made in USA since 6 years, where in return he is earning dividend. Being a non - us resident, he has not paid any taxes on his...

As a non resident : Why to fill out the form W-8BEN ? [ 1 Answers ]

I am nonresident alien. I got some tax returns from IRS. $ 4000.00 for 2008 I opened account in Bank of America and deposit the money. I've received today a letter from Bank of America that IRS requires all banks to maintain Reports of all non resident alien. They also send a W-8BEN form to...

Fill in tax form as resident alien or non resident ? [ 7 Answers ]

I am from China and I held B1 to enter US in Jan.2001 and changed the status B1 to F1 on 12/2６/2001. I returned to China and returned to USA ｉｎ ２００５ ｗｉｔｈ ａ ｎｅｗ Ｆ１ ｖｉｓａ ． I had no income in 2001 and 2002 and I failed to fill in the tax return in 2001 and 2002 since I didn't know I needed to do so ...

How to fill out W-7 form to get ITIN by Polish Resident [ 11 Answers ]

Hi, My friend has been inhered a pension from her grandfather who died. She must fill out a W-7 form to get an ITIN from IRS. The main problem is a filling a reason (the top of first page). The IRS recently not accepted W-7 form and said : "You did not provide the exception you have met, your...

View more questions Search