Two years ago, I lent money to a foreign builder (so a foreign asset).
At the start of last year, I still owned that foreign asset.
During last year, I gifted that asset to a foreign grantor trust. (passthru to 1040).
On my 1040, form 8938, how many times is that one asset reported?
Me (before gift)
Trust (after gift)
Wife as beneficiary of trust
On FinCEN 114, how many times is the one asset reported?
Me (before gift)
Me as grantor of trust
Wife as beneficiary of trust
---
Fred J. Tydeman Tydeman Consulting
tydeman@tybor.com Testing, numerics, programming
+1 (702) 608-6093 Vice-chair of INCITS/C (ANSI "C")
Sample C17+FPCE tests: http://www.tybor.com
Savers sleep well, investors eat well, spenders work forever.

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