Reporting Thresholds Applying to
Specified Individuals
Taxpayers living in the United
States. If you do not live outside the
United States, you satisfy the
reporting threshold discussed next
that applies to you and no exception
applies, file Form 8938 with your
income tax return.
Unmarried taxpayers. If you are
not married, you satisfy the reporting
threshold only if the total value of your
specified foreign financial assets is
more than $50,000 on the last day of
the tax year or more than $75,000 at
any time during the tax year.
Married taxpayers filing a joint
income tax return. If you are
married and you and your spouse file
a joint income tax return, you satisfy
the reporting threshold only if the total
value of your specified foreign
financial assets is more than
$100,000 on the last day of the tax
year or more than $150,000 at any
time during the tax year.
SO THERE IS AN ISSUE WITH TURBOTAX. IT SHOULD GIVE DIFFERENT THRESHOLD LIMITS TO DIFFERNT SITUATIONS (UNMARRIED, MARRIED AND LIVING WITHIN OR LIVING OUTSIDE).
