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Level 4
Feb 28, 2024 6:12 PM UTC
Solved

FBAR reporting for foreign inheritance

I received a foreign inheritance. I have a foreign bank account now with over $10,000. I also have a share in a condo. The FBAR form I saw asks only the info about the financial institutions, not real estate. Is there another form to report the real estate?

 

https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

DaveF1006
DaveF1006Answer
Alumni - Intuit
Feb 28, 2024 7:59 PM UTC

No, you do not need to report your real estate on an FBAR unless it's a rental property and you earn income from it.

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2 replies

DaveF1006
DaveF1006Answer
Alumni - Intuit
Feb 28, 2024 7:59 PM UTC

No, you do not need to report your real estate on an FBAR unless it's a rental property and you earn income from it.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
vrflashAuthor
Level 4
Feb 29, 2024 1:14 AM UTC

Thank you.