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Foreign financial assets and married filing jointly thresholds when one spouse lives abroad

Hello,

I have a situation I need some help with.
My wife and I, we are both US citizens and file jointly. However, for 2023 (and even 2022) my wife lived abroad for the entire year. Reporting foreign assets on form 8938 is provisional on certain thresholds depending on whether people lived in the US or overseas. How should I determine the reporting threshold in my specific situation - I am in the US and she's overseas, but we both are US citizens?

Thanks in advance

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2 Replies
DavidD66
Expert Alumni

Foreign financial assets and married filing jointly thresholds when one spouse lives abroad

Because you are filing jointly, the threshold for a taxpayer with a presence abroad would not apply to you, even though your wife meets  the criteria because you do not meet the criteria. You should use the filing threshold for taxpayers living in the united states married filing jointly:  More than $100,000 on the last day of the tax year or more than $150,000 at any time during the tax year.  

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Foreign financial assets and married filing jointly thresholds when one spouse lives abroad

Thank you

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