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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"?
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.
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.
Best regards,
Renee
March 10, 2022
4:19 PM