Hello @SusanY1
I am very sorry to bother you again. Could you please help? I don't know whether should I enter the income from my foreign insurance policy as "Other Income" to
Amounts Attributable to Other Foreign Financial Assets
Or
Amounts Attributable to Foreign Financial Accounts
?
Would there be a difference for paying tax if I enter the value in "Amounts Attributable to Foreign Financial Accounts" and "Amounts Attributable to Other Foreign Financial Assets"? Does it depend on whether my foreign insurance policy is considered as a "cash value life insurance"?
Thank you very much.
Best regards,
Renee
