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Get your taxes done using TurboTax
If you control a foreign account with more than $10,000 US equivalent, for even 1 day in 2024, it must be reported, even if the funds were borrowed or you were holding the money for someone else. What matters is that you owned/controlled a foreign account. But its just a report, no tax is owed.
‎October 23, 2024
3:35 PM