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Get your taxes done using TurboTax
Thanks for your input, Dave!
Yes, my total foreign bank account savings exceed $50k (married filling jointly and it exceeds that threshold as well) and TurboTax alerted me that this form will indeed be required.
Regarding Part III of Form 8938, should I enter 1040, Line 2b onto (d) Form and Line and Schedule B, Line 1 onto (e) Schedule and Line?
On my Schedule B, Line 1 shows 2 lines. One for my American bank account, and the other for my foreign bank account for the interest of $4.00
On my Form 1040, it shows a sum of $13 on line 2b for interest. Just wanted to make sure I am reporting the right spots since some of the interest also came from a non-foreign (American based) bank account and isn't directly related to the 8938.
Thank you!
‎January 24, 2023
3:41 PM