Screen 8938 - Statement of Specified Foreign Financial Assets (1040)

Form 8938 - General Information

Use this section to indicate that the taxpayer is required to file Form 8938.
Enter
X
if the taxpayer meets all of the following: Lives in the United States; was not a bona fide resident of a foreign country; and had specified foreign financial assets of more than $75,000 ($150,000 for MFJ) at any time during the tax year, or more than $50,000 ($100,000 for MFJ) on the last day of the tax year. See Form 8938 IRS instructions.
Enter
X
if the taxpayer meets both of the following: Was a bona fide resident of a foreign country and had specified foreign financial assets of more than $300,000 ($600,000 for MFJ) at any time during the tax year, or more than $200,000 ($400,000 for MFJ) on the last day of the tax year. See Form 8938 IRS instructions.

Tax Items Attributable to Assets

Use this section to enter information to complete Form 8938, Part III.
If Part V, line 22d, is marked for all accounts on Form 8938, indicating no tax items are attributable to any of the Part V accounts, leave these fields blank. Otherwise, enter the sum total of all foreign deposit and custodial accounts on Form 8938, Part V, the schedule, form, or return, and the line number on which the amount was reported.
If Part VI, line 31d, is marked for all assets on Form 8938, indicating no tax items are attributable to any of the Part VI assets, leave these fields blank. Otherwise, enter the sum total of all foreign assets on Form 8938, Part VI, the schedule, form, or return, and the line number on which the amount was reported.

Excepted Foreign Financial Assets

Use this section to enter information to complete Form 8938, Part IV.
The number of forms with the Excepted Specified Foreign Financial Assets box marked is automatically counted and reported on Form 8938, Page 1, Part IV. To use a number different from the calculated one, enter the appropriate number in the force fields here. Note that Form 8891 is obsolete, so you should enter Canadian RRIF or RRSP on the 8938-2 screen.
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