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IRS forms 3520 and 3520A




barmarr

Jun 12, 2011, 11:18 AM

Views: 5244

IRS forms 3520 and 3520A

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QUESTION:

Could some U.S. Citizens who own vacation homes (not full-time living, also not a rental) in the restricted zones of Mexico, please share how they have handled the IRS forms 3520 and 3520A.

Thanks,
Barmarr



chicois8

Jun 12, 2011, 1:58 PM

Views: 5217

Re: [barmarr] IRS forms 3520 and 3520A

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Yes, fill out forms, send them in, no problems.....
Ocanahua, Jalisco
San Mateo, California



barmarr

Jun 12, 2011, 8:36 PM

Views: 5186

Re: [chicois8] IRS forms 3520 and 3520A

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Did you complete the forms yourself, or did you pay a professional?

My CPA is totally unfamiliar with these forms, and when I contacted a CPA on-line he said we need a special Mexican ID number and he charges $750 for the first year and $300 for each following year. How did you get the special Mexican ID numbe?



chicois8

Jun 12, 2011, 9:49 PM

Views: 5178

Re: [barmarr] IRS forms 3520 and 3520A

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My CPA took care of everything.......
Ocanahua, Jalisco
San Mateo, California



salto_jorge

Jun 14, 2011, 6:20 PM

Views: 5092

Re: [barmarr] IRS forms 3520 and 3520A

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Why would one have a foreign trust besides the location of the property?

Are there any advantages if you have a foreign trust ?


(This post was edited by salto_jorge on Jun 14, 2011, 9:39 PM)