pk
Level 15
Level 15

Get your taxes done using TurboTax

@Mirka1 

(a) A US person ( citizen/ GreenCard / Resident for Tax purposes )  come under the rules of FBAR and FATCA.  Even if you do not have any income in USA ( requiring a return filing ) FBAR is required once you  cross the threshold of US$10,000  aggregate if you  own and/or have signature authority  over foreign bank account(s).

The FATCA ( form 8938  with your return ) has a higher threshold but include other assets ( liquid or near liquid ).

 

(b) The sale / alienation  of real property / assets need to be reported to the IRS / State  on your return for the year when the transaction  was consummated.

 

(c) Gifts  from NRA ( assuming that the donors were Non-Resident Aliens )  may also need to be reported depending on whether the amount was equal/greater than US$100,000.  If the donors were US persons, then they also needed to file form 709.

 

All this leaves  me at a loss to understand  exactly why  you never had to file a return ?  When did you enter the USA  ?  Was this your first entry ?  When did you get your  GreenCard  ?  Which  country are you from   ( for purposes of Treaty  articles and double taxation / foreign tax credit  etc. ) ?

 

I will circle back once I hear from you 

 

pk