Deductions & credits

Hello @FangxiaL 

Thank you very much for your reply.

Yes, I need to report my foreign bank accounts.

As shown below, it is the next page as your showed in your reply. I need to choose if "This account did not have income, deductions, or credits associated with it in 2021.".

I withdrew money from this foreign account (electrical wallet) and sent it to another foreign bank account, is it considered as "Deduction"? 

Screenshot_foreign_financial_account.png

If "YES"- it is considered as a deduction, then, I need to leave a blank for the above highlighted option,  Then, in the 8983 form, it will show as below. 

Screenshot_form8983p1.png

 

However, should I enter the deduction value in the deductions? Is this deductions the SAME as "money transfer between your own foreign bank accounts? Thanks. Screenshot_foreign_financial_account_p2.png

 

 

Best regards,

 

Renee