If that account (plus any foreign accounts your wife is a shared owner) had at any time during the year $10,000 or more, she would need to file her own FBAR.
Thank you, bine22. Your answer raises another question: Since her account had more than USD 10,000 last year, how do we do that through TurboTax?
FBARs are not filed through Turbotax. You need to file them here <a rel="nofollow" target="_blank" href="http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html">http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html</a>
Wow, thanks! That's really helpful to have that link. Have a great day. Oh, but since you seem to know about foreign accounts, would you also know how we can report our income received in another country/currency? TurboTax only lets us choose income reported on W-2, and I don't get those from my foreign employer. Thanks in advance.
go to "less common income" - "foreign earned income and exclusion" to enter foreign earned income.
Yes, I found that 2 mins after I sent you that question. Thanks again. Have a great day! (or night, wherever you might be right now)
Yes, your wife's account would be included in your reporting of foreign bank accounts if you are filing a joint tax return.