ErnieS0
Expert Alumni

Get your taxes done using TurboTax

Enter your foreign interest in Interest on 1099-INT even though you did not receive Form 1099-INT. Skip the import and type it yourself.

 

On the screen "Let's get your 1099-INT or brokerage statement details," enter the name of your foreign bank and the amount in U.S. dollars.

 

The 1099-OID, Foreign Accounts section is for creating the FBAR and Form 8938.

 

If at any time during the year the total balance of all your foreign accounts was more than $10,000, you will need to complete FinCEN Form 114 (formerly Form TD F 90-22.1). 

 

If you held foreign financial assets worth more than $50,000 on
the last day of the tax year or $75,000 at any time during the tax year you might also need to complete Form 8938. We'll help you with this.

 

[Edited 02/14/23 | 17:48 PST]

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