how are you supposed to handle joint accounts that are held with a non us citizen? ie a canadian and american husband and wife hold a joint account which has been contributed to on a 50/50 basis and accounted for on a 50/50 basis on canadian taxes?
do you report half the amount on the fbar reports?
fbar question
Moderator: Mark T Serbinski CA CPA
Does it really matter. Report the joint account (as a joint account), and report the total highest value.
Its the reporting that is impotant, not the amount you report.
Its the reporting that is impotant, not the amount you report.
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