3487045
Helping my mom with taxes due to the unexpected passing of my father. He has owned for ages shares of stock (managed through his brokerage account) in a company that is listed on the NYSE whose headquarters are in Ireland. He was previously answering Yes to the TurboTax prompt for 'Do you have any foreign financial assets?' but from what I see in the help dialog in TurboTax, it states the following, which indicates that the answer should instead be No:
- Any equity or debt interest in a foreign financial institution (other than interested that are regularly traded on an established securities market)
Should the answer to this prompt instead be No?
You'll need to sign in or create an account to connect with an expert.
The answer should be No.
Stock of a foreign company listed in the US and held in a US brokerage account is not a foreign financial asset.
Please see the definition of foreign financial assets in this IRS document.
The answer should be No.
Stock of a foreign company listed in the US and held in a US brokerage account is not a foreign financial asset.
Please see the definition of foreign financial assets in this IRS document.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
avo
Level 3
taxgirlmo
Returning Member
ansa914
New Member
Ken-B
New Member
shnaners1224
New Member