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Joselio

K1 wife, MFJ tax, foreign bank account, FBAR?

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Hi,

I'm US citizen. My wife came to US with a K1 fiancee visa in June 2018, We married in July 2018 and from the date of married to the last day of 2018 she has been living in the US.

In her country, Chile, she worked from January 2018 to May 2018. She has not worked in the US.

 

She has two bank accounts in Chile, and last year she had a combine amount of approx. $13,000 in those accounts. all of these manoy was saving from her job. Some of that money she has been transferring to our bank in the US. from bank to bank (electronically).

 

I have been doing the taxes 2018, Married filling jointly, and Turbotax is asking to file FBAR?

 

Anyone has had experience in this situation?

It appears that Turbotax doesn't support FBAR. Who I need to contact to file the FBAR?

 FYI- she doesn't have the GC, still waiting for the interview.

Thanks,

Edited by Joselio

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On 2/1/2019 at 10:53 AM, Joselio said:

Hi,

I'm US citizen. My wife came to US with a K1 fiancee visa in June 2018, We married in July 2018 and from the date of married to the last day of 2018 she has been living in the US.

In her country, Chile, she worked from January 2018 to May 2018. She has not worked in the US.

 

She has two bank accounts in Chile, and last year she had a combine amount of approx. $13,000 in those accounts. all of these manoy was saving from her job. Some of that money she has been transferring to our bank in the US. from bank to bank (electronically).

 

I have been doing the taxes 2018, Married filling jointly, and Turbotax is asking to file FBAR?

 

Anyone has had experience in this situation?

It appears that Turbotax doesn't support FBAR. Who I need to contact to file the FBAR?

 FYI- she doesn't have the GC, still waiting for the interview.

Thanks,

FBAR Is not part of the tax return. TurboTax just reminds you. If she had over $10,000 in bank accounts in Chili anytime in calendar year 2018, she files.  It is a report to the US Treasury. There is no tax liability.

 

This page explains and gives some links to read  https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

 

This is the link to where you file online or do an offline form. It is basically going to ask for the bank name, address, account number, and highest balance during 2018.

https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

 

Note: I'm not sure why the IRS website puts this under small business because it applies to any taxpayer with foreign accounts.

Edited by Wuozopo

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42 minutes ago, Wuozopo said:

FBAR Is not part of the tax return. TurboTax just reminds you. If she had over $10,000 in bank accounts in Chili anytime in calendar year 2018, she files.  It is a report to the US Treasury. There is no tax liability.

 

This page explains and gives some links to read  https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

 

This is the link to where you file online or do an offline form. It is basically going to ask for the bank name, address, account number, and highest balance during 2018.

https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

 

Note: I'm not sure why the IRS website puts this under small business because it applies to any taxpayer with foreign accounts.

Thank you....

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