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1.forgot to add int income from fbar ac=~250$ & just filed 2016taxes in Oct2017&rcvd return from Fed+state. What can I do now?Amend & mail?dont've1099INT as it foreign ac
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1.forgot to add int income from fbar ac=~250$ & just filed 2016taxes in Oct2017&rcvd return from Fed+state. What can I do now?Amend & mail?dont've1099INT as it foreign ac
FBAR form ( FINCEN 114 ) deals only with foreign bank accounts with aggragate value of $10,000 or more -- you do not report interest income on that form. However on your 2016 federal and state returns you would need to recognize / report report all incomes , including foreign interest earned while a resident/ citizen of the USA.
If you have already filed (and have been accpted by the IRS ), you will need to amend your filed return.
Does this cover your situation or did I misunderstand ?
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1.forgot to add int income from fbar ac=~250$ & just filed 2016taxes in Oct2017&rcvd return from Fed+state. What can I do now?Amend & mail?dont've1099INT as it foreign ac
FBAR form ( FINCEN 114 ) deals only with foreign bank accounts with aggragate value of $10,000 or more -- you do not report interest income on that form. However on your 2016 federal and state returns you would need to recognize / report report all incomes , including foreign interest earned while a resident/ citizen of the USA.
If you have already filed (and have been accpted by the IRS ), you will need to amend your filed return.
Does this cover your situation or did I misunderstand ?
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