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webster2004
Returning Member

Does 'Resident Alien' need to report bank accounts and real property outside USA?

As a 'resident alien':

1. do I need to report my account outside USA?

2. do I need to report my real property outside USA?

3. I have been in US(with L1) for 1.5 years, if I sell my house abroad, do I need to report tax for such income?

1 Reply
Fern
New Member

Does 'Resident Alien' need to report bank accounts and real property outside USA?

Yes, you need to report these items.

Per the IRS "  Federal law requires U.S. citizens and resident aliens to report any worldwide income, including income from foreign trusts and foreign bank and securities accounts. In most cases, affected taxpayers need to fill out and attach Schedule B to their tax return. Certain taxpayers may also have to fill out and attach to their return Form 8938, Statement of Foreign Financial Assets."

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