8938 finalized, but no space for 8891?

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ikeaidea
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Joined: Wed Dec 29, 2010 7:11 pm

8938 finalized, but no space for 8891?

Post by ikeaidea »

IRS release the 8938. In the insturction, it said 8891 doesn't need to be reported but only Part IV. however, in 8938, all other forms are there, such as 5471, 3520... But no 8891?

Anybody knows about it?

Additionally, still for real estate, I saw a post in newspaper, said rental property need to be reported, but home is not. How about investment, such as land, house that lived by parents only?

Thanks.
nelsona
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Post by nelsona »

As the instructions point out, any 8891, since it is a substitute for 3520, is counted as a 3520.

I would suggest readin the instructions. there is no mantion of real estate as a specified foreign asset for this form's purposes.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
ikeaidea
Posts: 76
Joined: Wed Dec 29, 2010 7:11 pm

Post by ikeaidea »

Hi Nilsona,it is said rental agreement is included as foreign investment contract of 8938. Then rental real estate is included.
nelsona
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Post by nelsona »

I see no such mention of renta agreement.

What instructions are you reading?!
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
ikeaidea
Posts: 76
Joined: Wed Dec 29, 2010 7:11 pm

Post by ikeaidea »

Sorry, not in the instruction. But from the professional CPA's post from several ways. The instruction is not clear, but professionals are sure that rental contracts are included.
nelsona
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Post by nelsona »

I would suggest you read the instructions instead. They may not be clear, but in no way can tehy be interpeted to include rental real estate.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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