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Deductions & credits
@littlemisskissey75 from your post should I assume that you are talking about how to report Foreign specified assets for purposes form 8938 ? Or are you at line 3 --" type of filer" -- if so then you are a "specified individual". A specified individual is a person whom comes under the regs pertaining to FATCA.. This is generally a US person ( Citizen / GreenCard / Resident for Tax purposes ).
If you have a foreign bank / broker account with cash or cash equivalent or monies held for investment , then you meet the reporting requirements of FATCA. RealEstate is not Specified financial item.
Does this help ? Is there more I can do for you ?
‎September 25, 2024
8:20 PM