Some background!: Our grandmother passed away a couple years ago and left my dad about $14,000. My dad is one of those down and outer types, I live in Canada (born in the states) away from it all. My dad put a lot of stress on me last year to open up this joint bank account (at an American bank, using my SSN) with my sibs so that he wouldn’t be put into any different tax bracket (he is pretty much homeless, no income). I was very reluctant as I have never filed for taxes in the states (have lived in CAN since I was 16).
Anyways. I got a message from the middle bro saying the bank account went from $14,000 down to something like $130. Oldest bro replies saying our dad wanted him to invest it..? ....
so here I am having a bit of a meltdown thinking about what I should be worry about in terms of taxes and IF the account goes into any sort of bad standing how am I supposed to deal with that being abroad? Did I mess myself over by opening this account?
Edit: some formatting; also I will update as I get more information from sibs. There are three of us in total just for reference.
Submitted February 28, 2018 at 09:21PM by SugarItsFIne http://ift.tt/2t6FEwM
