TomK2023
Expert Alumni

Deductions & credits

Yes, you can file electronically.  

 

Just report the payor's name (nothing else about the payor is needed -- not the address, not any ID number),

 

FYI: Please be aware that If you have  foreign bank accounts, these come under both FBAR and FATCA regulations.  Not filing when required to may cause a penalty.

 

"US citizens, residents, and entities (including corporations and partnerships) are required to file a FinCen 114 (Report of Foreign Bank and Financial Accounts [FBAR]) form if they had a financial interest in (or signature authority over) at least one foreign financial account and the total value of all foreign accounts exceeded $10,000 at any time during the calendar year.

 

An FBAR is separate from your tax return.

 

You can file FBAR through the government’s BSA E-filing System Website."

 

TurboTax FAQ: How do I file an FBAR report (FinCEN 114)?

 

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