Form 8938 part III has lines 1f Deductions and 1g Credits. This is to report foreign bank checking accounts which generate no income or interest . The income that goes into the accounts is reported on my tax return.
These are working bank accounts just like my checking account in the US. There are deductions and credits all the time. The IRS cannot seriously want to know every single trivial transaction I make. These are not high value accounts.
Only my foreign pension account which I has no credits or distributions pushes me into FATCA reporting.
There simply isn't enough space in the column (c) boxes for "Amount reported on form or schedule" to provide my bank statements for the entire year. So what do I put in the box, or do I just ignore it as a ridiculous and unnecessary intrusion?
