8938 - how to know value of estate?

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
RSmithers
Posts: 14
Joined: Sat Feb 08, 2014 6:51 pm

8938 - how to know value of estate?

Post by RSmithers »

Interests in foreign estates have to be reported on form 8938 if you meet the reporting threshold.

I'm wondering how exactly you are supposed to value the estate? I presume the number has to be accurate? The instructions also state that if you don't know the value, and you didn't receive a distribution, you use a value of zero. Does this mean that even if you know the value is over your reporting threshold, you don't have to report it if you don't know the exact value?
Top
Post Reply

Return to “Canada / United States Tax & Accounting”