atin95
New Member

As a resident alien for tax purposes for 2018, do I need to report interest on my foreign bank account even though my account balance never exceeded $10,000?

Here are my questions:

- Do I need to report interest on my foreign bank account even though my account balance never exceeded $10,000?

- If so, how do I submit the interest through TurboTax Premier?

  • If it is through entering my foreign interest income as if I have received 1099-INT, which boxes do I have to fill out? (only Box 1 & Box 6?)
  • Do I need to check "FATCA filing requirement box is checked"?

- Since my account is less than $10,000 I do not plan to file an FBAR to report my account. Is that a good move?

Thanks in advance for your help!