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Anxious
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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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pk
Level 15
Level 15

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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2 Replies
pk
Level 15
Level 15

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 ?

Anxious
New Member

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

yes thank you I did
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