Property in foreign country

[xnssk]

If I purchase a property in foreign country, do I need to report on tax? what forms do I need?

[RSUMan]

No, the mere ownership of property in a foreign country does not trigger a reporting requirement.

I assume you are referring to real estate.  When you sell the real estate, then you do report the gain or loss.

If you have a foreign bank account, you must make a filing if the amount in the account exceeded $10,000 during the year.  The form is called FBAR and you complete it at www.fincen.gov.