Search fbar on google
Turbo tax or your accountant will guide you... Ensure you also submit the FBAR form around the same time which is a separate process from the usual tax return. This is used to just declare every asset and account overseas
Where it asks if you have a foreign account say yes and then follow the simple steps?
It will be a wise investment on your side to have a CPA or tax accountant do your taxes. Find one that has experience working with foreign nationals. They know all the laws and regulations so don’t try to do it yourself... at least not the first time around.
You have to file an fbar or a tax consultant can do it for you. I’m not sure how this works if you’re filing through turbo tax. I visited a tax consultant and he asked me to add up all the interest of my saving, checking and deposits outside the US, used some sort of standard convention rate and reported the earnings in dollars. Just get a yearly statement from your bank and convert earnings to $$. Pretty straightforward
I have a tax accountant (provided by Amazon - at least this year) PwC to do tax return for me. But it seems that they will not do the FBAR for me. I am not worried abt interest as the money i kept is in checking acc and the interest earned is negligible. However, it seems that the FBAR is not for tax return but for government to keep track of ur assets oversea? If i dont have any earned interest, do i need to fire FBAR?
You need to report your foreign holdings using the online FBAR form. Doesnt hv anything to do with interest. Just file it online yourself. It takes 15 mins
Do declare every stock mutual fund and account with the max balance for the 2018 year
The tax laws so change two years ago and this is also repeated in the usual tax filings as form 8938
Ask Blinders
18h
803
Why Pronouns shit captured US ? I don’t see this anywhere else
Tech Industry
5h
768
Meta: Can I go from no name tech company to E5?
AMA
Yesterday
2899
I have worked at TikTok US core tech for 3 years. AMA.
India
13h
2750
Why is it so G*damn difficult to move money out of India
Tech Industry
Yesterday
3687
I do tech screens at Google. AMA
Pay for an accountant, have them help with this.