DavidD66
Expert Alumni

Deductions & credits

As Charles mentioned, just enter the foreign interest the same way you would interest reported on a 1099-INT.

 

As for FBAR, if you are required to do so, file electronically through FinCENs BSA E-Filing System The FBAR is not filed with a federal tax return.

 

You may need to file Form 8938 - Statement of Specified Foreign Financial Assets.  If so, in TurboTax:

  • Click on Search
  • Type in "Form 8938"
  • Click on "Jump to Form 8938
  • Answer Yes to "Do you have foreign financial assets?" and click Continue

The program will guide you through completing your Form 8938.

 

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