Deductions & credits

SusanY1 · ‎March 23, 2020

You will enter it all as other income in the section that you describe. For the entries on Form 8398, you will indicate that it is Other Income from Other Foreign Assets and you will list it as both Form 1040, Line 21 and Schedule 1, Line 8.

Here is an example of what that will look like in the TurboTax entry screens for Form 8938:

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