Question 15 ?of 100.Manuel owns a savings account in Spain in which he maintains a...

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Accounting

Question 15 ?of 100.
Manuel owns a savings account in Spain in which he maintains a balance of $1,000 ?to pay for gifts for his mother, who lives in Madrid. On an extended vacation in 2024, ?he earned $11,753 ?for showing tourists around Madrid. Manuel has tax obligations to do all of the following EXCEPI
File FinCEN Form 114, ?Report of Foreign Bank and Financial Accounts (FBAR), ?electronically with FinCEN.
Report his tour guide income on his U.S. ?tax return.
Report the Spanish savings account on Schedule B, ?Part III, Foreign Accounts and Trusts.
Report the amount he spent on his mother's apartment as a gift.
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