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Do I need to report interests from foreign savings account into the "Investments and Savings" section?
Hello, I own Savings account in France, and the total value of all these accounts was right above $50,000 on the last day of the year (litterally by just a couple hundreds of dollars).
So I completed my FBAR and I know I have to take TurboTax Premium to complete my taxes so you can file with my Form 8939.
But my question is: do I also have to report the interests I got last year from these foreign savings account into the "Investments and Savings" section of Turbotax? I got a little over $1,000 of interest last year and I already paid taxes on it in France. When I add this amount to my "Investments and Savings", it increases the amounts I owe for Federal and State taxes.
Thank you in advance!
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March 30, 2024
4:18 PM