turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

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

Foreign Stocks

Do I need to report foreign performance shares?  They will be granted in 2023.

The brokerage firm is UK based and they do not provide any tax US documents ;-(

Similar questions, do I need t report them in 8938 and in the FinCen?

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
KarenJ2
Expert Alumni

Foreign Stocks

As long as the stock is unvested stock and you have not already paid tax on the stock (Section 83(b)), you do not need to report the shares on the FBAR or Form 8938.

 

For FBAR: Only when it is substantially vested.

 

For Form 8938:   Interests in property transferred in connection with the performance of services. You are first considered to have an interest in property transferred in connection with the performance of services on the first date that the property is substantially vested (within the meaning of Regulations section 1.83-3(b)) or, if you have made a valid section 83(b) election with respect to the property, on the date of transfer of the property. See page 6 of Form 8938 Instructions.

 

Form 8938 Instructions

 

Comparison of Form 8938 and FBAR

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
KarenJ2
Expert Alumni

Foreign Stocks

As long as the stock is unvested stock and you have not already paid tax on the stock (Section 83(b)), you do not need to report the shares on the FBAR or Form 8938.

 

For FBAR: Only when it is substantially vested.

 

For Form 8938:   Interests in property transferred in connection with the performance of services. You are first considered to have an interest in property transferred in connection with the performance of services on the first date that the property is substantially vested (within the meaning of Regulations section 1.83-3(b)) or, if you have made a valid section 83(b) election with respect to the property, on the date of transfer of the property. See page 6 of Form 8938 Instructions.

 

Form 8938 Instructions

 

Comparison of Form 8938 and FBAR

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question