Form 8938, Statement of Specified Foreign Financial Assets YouTube
What Is Form 8938. Here’s everything you need to know about this form: Solved • by turbotax • 965 • updated january 13, 2023 filing form 8938 is only available to those using turbotax deluxe or higher.
Form 8938, Statement of Specified Foreign Financial Assets YouTube
Define irs form 8938 on march 18, 2010, president obama signed the foreign account tax compliance act (fatca) into law, and form 8938 was one of the new forms created. Officially called your statement of specified foreign financial assets, form 8938 one of the forms expats use to tell the irs about financial assets they hold abroad. Web form 8938 reporting applies for specified foreign financial assets in which the taxpayer has an interest in taxable years starting after march 18, 2010. Use form 8938 to report your specified foreign financial assets if the total value of all the specified foreign financial assets in which you have an interest is more than the appropriate reporting threshold. Web technically speaking, form 8938 refers to the irs’ statement of specified foreign financial assets filed by us persons with fatca assets that are reportable to the internal revenue service in accordance with internal revenue code section 6038d. Back to top specific examples: Cash or foreign currency, real estate, precious metals, art and collectibles i directly hold foreign currency (that is, the currency isn't in a financial account). For most individual taxpayers, this means they will start filing form 8938 with their 2011 income tax return. Web what is form 8938? Solved • by turbotax • 965 • updated january 13, 2023 filing form 8938 is only available to those using turbotax deluxe or higher.
Back to top specific examples: If you are a beneficiary of the foreign trust, you may have to file form 8938 to report your interest in. It is part of fatca, an act passed by the obama administration in 2010 to curb foreign tax evasion. For most individual taxpayers, this means they will start filing form 8938 with their 2011 income tax return. Web technically speaking, form 8938 refers to the irs’ statement of specified foreign financial assets filed by us persons with fatca assets that are reportable to the internal revenue service in accordance with internal revenue code section 6038d. Web about form 8938, statement of specified foreign financial assets. Web what is form 8938? Back to top specific examples: Solved • by turbotax • 965 • updated january 13, 2023 filing form 8938 is only available to those using turbotax deluxe or higher. Specified individuals and specified domestic entities that have an interest in specified foreign financial assets and meet the reporting threshold Web if you are treated as an owner of any part of a foreign grantor trust, you may have to file form 8938 to report specified foreign financial assets held by the trust.
