Question
In January 2018, Sonja Deposited $20,000 in a bank in the Bahamas. She earned $500 Interest income. She closed the Account in December 2018. a.
In January 2018, Sonja Deposited $20,000 in a bank in the Bahamas. She earned $500 Interest income. She closed the Account in December 2018.
a. Is Sonja subject to the FBAR reporting requirement?
b. Is the Interest Income taxable in the United States?
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a Sonja is subjected to FBAR requirement United States persons are required to file an FBAR if The U...
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South-Western Federal Taxation 2020 Comprehensive
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
43rd Edition
357109147, 978-0357109144
