Ask Experts Questions for FREE Help !
    aditya999's Avatar
    aditya999 Posts: 21, Reputation: 1
    New Member

    Jan 13, 2020, 01:55 PM
    Tax filing and FBAR for elderly
    My mom got her US green card in July 2019. She is 65+ and a widow. Her gross yearly income is less than $25700. Her source of income is only from abroad, no U.S income.

    - Does she need to file taxes in U.S (including Form 8938)?
    - Does she need file FBAR? She has more than $10000 in her foreign bank account.

    Thanks in advance.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert

    Jan 13, 2020, 05:23 PM
    Yes, she DOES have to file a tax return. Under the "green card test", she must file as a resident alien (Form 1040 or Form 1040-SR) and report ALL world-wide income on her return.

    Yes, she DOES have to submit the FBAR.

    She WILL have to submit Form 8938 (FATCA) with the tax return if she has more than $50,000 in her foreign bank account.

    She will also have to file a part-year state tax return if she lives in a state that has a state income tax.

    Assuming se has made NO estimated tax payments, she will owe $1,231 to the IRS.
    aditya999's Avatar
    aditya999 Posts: 21, Reputation: 1
    New Member

    Jan 13, 2020, 06:46 PM
    Thanks. Is she supposed to file as Single or Qualified Widow? What are the income limits for filing taxes (Federal and California)? Since she got her green card towards July end, her taxable income is only what she earned between July and December, right? ~$25700 is for the whole year. She lives in California.

    If her income is below the filing limit and she doesn't have to file Federal taxes, will she automatically be exempt from filing FBAR and California State Tax also? She lived only July and August in California and flew back to her home country.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert

    Feb 5, 2020, 09:51 AM
    She will have to file SINGLE; qualified widow only applies if there are children.

    No requirement to file the California return, but the FBAR is STILL required even if she does not file the federal tax return.

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!

FBAR filing due date [ 1 Answers ]

FBAR filing due date is today 4/15. However is automatic extn of 6 more months valid for 2018? Can we submit by 10/5/2019?

Fbar filing for money transferred to parents account in india? [ 1 Answers ]

Hi, I am on H1(resident alien for tax purpose) visa status and would like to know if I need to file FBAR for the money (after tax from salary) I transferred to my parents account in India (not joint account with me) for family maintenance? Thanks for your time.

Does 10,000 threshold for FBAR apply to individuals filing jointly? [ 3 Answers ]

My wife and I file taxes jointly in the US. And we have individual bank accounts in India. I had a question about whether the $10,000 threshold gets doubled for individuals filing jointly? A. Do I file FBAR if my overseas balances exceeded 10,000, and my wife files FBAR if her overseas...

FBAR filing queries [ 3 Answers ]

Hi I have a few questions regarding FBAR form: 1. I have to enter information about shares. What should be the "Maximum value of account during calendar year reported" be for shares? Do I need to find out the highest price of the shares in 2011 and then calculate the net value or can I use...

Filing status as Married Filing Jointly or Filing Separately [ 1 Answers ]

Hi, I have been in USA on L1 for the following time period: May 2006 to January 2007. August 2007 till Date. According to the substantial presence test, I completed my 183 days in US in November 2007. So during 2007 I was a dual status alien. My non-working spuose and year old...

View more questions Search