Does a mortgage with a foreign bank count as value over $10,000? I own a house on a mortgage from a Japanese bank. I have read conflicting answeres.

[etwakko1]

When I go to "wrap up income" I noticed "1099-OID Foreign Accounts" was added. We use a Japanese bank account to pay for the mortgage but the account itself is never anywhere near $10,000.

EDIT: the account itself that holds the money to pay the mortgage is never over $10,000. the amount of the mortgage itself is over $180,000.

Using the help feature in TT, it says that real estate does not count as an asset or does not require reporting. Just making sure, the debt we owe on the mortgage itself does not qualify as an asset over $10,000 that needs to be reported, correct?

[bine22]

the mortgage is not reportable on your FBAR.