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    bluedagat's Avatar
    bluedagat Posts: 1, Reputation: 1
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    #1

    Mar 15, 2013, 01:33 PM
    form 8938
    I'm completing form 8938. I have stock in a foreign company worth more than the threshold. I hold it singly, but my husband and I file jointly. I also have a foreign checking account (im a dual citizen) which had a maximum of $10,500 in 2012. I filed an FBAR for my checking account last year, and an 8938 for my financial assets. I did not report my checking account in the 8938. Questions:

    Should I do that this year?
    I sold a portion of shares this year so the number of shares fluctuated. I am assuming I am reporting the stock holding at the beginning of the year. How do I determine maximum value of asset? Do I just multiply # of stocks at beginning of the year times the highest share price in the year or do I use the highest share price I sold stock for?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Mar 15, 2013, 02:23 PM
    Yes, report the checking account on the Form 8938.

    Determine the highest value of the stock accounting 2012 in your home currency, then convert it using the conversion factor on 31 December 2012.
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