turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mikaoner
New Member

I am asked if my foreign assets amount to more than usd 75,000 at the end of 2016. If one owns property abroad that amounts to more than this figure, what to answer?

I'm not a US Citizen, and i am here on a non permanent work visa
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
RichardG
New Member

I am asked if my foreign assets amount to more than usd 75,000 at the end of 2016. If one owns property abroad that amounts to more than this figure, what to answer?

Then you should answer yes.  The question pertains to federal reporting requirements for foreign assets.  Resident aliens and some nonresident aliens are subject to this requirement.  Please follow this link for more information.  https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements

View solution in original post

1 Reply
RichardG
New Member

I am asked if my foreign assets amount to more than usd 75,000 at the end of 2016. If one owns property abroad that amounts to more than this figure, what to answer?

Then you should answer yes.  The question pertains to federal reporting requirements for foreign assets.  Resident aliens and some nonresident aliens are subject to this requirement.  Please follow this link for more information.  https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies