amend previous year's tax by adding foreign financial income

Forum|Forum|3 years ago
February 8, 2023
1 reply
20 views

I forgot to add foreign financial interest payment which is about $50 (~400 Chinese Yuan), and we don't have form 1099-Int in my country.

My original tax return was done by Turbotax CD installed my old laptop that has been broken, unfortunately I didn't get chance to save all the data, with that said, I need to manually complete 1040x by my own now

I understand the difference between column A, B and C, but it would be great if you share the instruction about:

1. Which rows should I correct to add back this $50 foreign interest payment?

2. What rows should not be touched?

3. Given the interest is just $50, other than this form, should I attach any other documents when filing to IRS?

Thanks!

MaryK4

Level 15

Your interest income would be added to the AGI on Line 1.

You do not make entries on any lines that are not changed. (You most likely will only use 1-3-5-6-11-20).

You do not want to do any attachments, but provide an explanation- the name of the bank and amount.

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cathiexuAuthor

Level 4

Thanks for the reply. I'm California resident so I guess I'll also file amend to CA.

Should I only file form 540-x? If so, there are sections for penalty and interest, how should I calculate that?

Thanks!

amend previous year's tax by adding foreign financial income

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