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I have Indian bank account and earned interest. I need to report that. How should I do it? I did not see Schedule B form anywhere. How do I report Indian interest
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June 6, 2019
3:08 AM
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Get your taxes done using TurboTax
Please enter your foreign interest income AS IF you have received 1099-INT for it and enter interest income in box 1. If you paid any foreign taxes on the interest income, enter them in box 6 of 1099-INT form (be sure to indicate that you have more than just box on the form - see pic).
- Federal Taxes
- Wages & Income
- Interest and Dividends - select Interest on 1099-INT - (be sure to indicate that you have more than just box on the form - see pic).
Note: You may have to file form Fincen 114, if your foreign account(s) exceed $10000 at any time during 2016. You have to file it through the Treasury website: http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html
June 6, 2019
3:08 AM