Hello @DavidD66
Could you please help?
Thank you very much for your reply. I have some additional questions.
1. >>If they fail either of these tests they are considered investments and are subject to reporting.
If it failed, which type should I report it? As "Foreign Financial Accounts" and type "Deposit" or "Other Foreign Financial Assets"?
2. For the income from the foreign insurance policies, I know that I should add it as "Other Income" on Form 140 Line 21, Schedule 1, Line 8, but which category should I enter it to, "Amounts Attributes to Foreign Financial Accounts" or "Amounts Attributes to Other Foreign Financial Assets"?
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/which-schedule-and-line-should-i...
3. >>If your "security accounts" do not have any assets, then they are not subject to withholding. If they have any assets, they would be reported as "Other Foreign Financial Assets".
There is only $0.18 dollar in my security account. It is not the value of a stock, just money left at my security account.
Best regards,
Renee
