Question

Form 8938- Reporting foreign financial assets/accounts for spouse?

Forum|Forum|2 years ago
March 20, 2024
1 reply
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I am filing a joint return with my spouse. When filing the Form 8938 , how do I enter the individually owned account of my spouse? It does NOT give option to specify the name.

DaveF1006

The only reporting that is required in the form is that if the account is owned jointly in Part V line 22. You would check a box in that section that indicates the account is owned jointly. If that is not checked, then the IRS knows that it is owned either by you or your wife but not both. There is no entry made regarding the name of the account holder.

This would be reported the same manner in Part V1, line 31 if you reported other Financial Assets in your return.

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