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Re: swiss-list: Reporting your foreign accounts on US tax return: Exception

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Re: swiss-list: Reporting your foreign accounts on US tax return: Exception

From: Leonore Wigger <click for textversion of email address >
Date: Fri, 9 Jan 2004 15:01:13 -0800 (PST)

---------------I wrote on 1/6/04----

> I found the following, which I thought might be worth sharing:
>
> **If the combined value of the accounts was $10,000
> OR
> LESS during the entire tax year, you don't need to
> report your foreign accounts.**
>

Well, I was only half right here. I was advised
off-list that the above has nothing to do with whether
you need to include the INCOME from your foreign
accounts on your tax return. That's a separate issue
and depends on totally different criteria.

I thought I had come across a useful and simple bit of
information, but it turns out to be not simple at
all...

Leonore
San Francisco
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Received on Fri Jan 09 2004 - 17:44:29 PST

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