If you are subject to U.S. income tax, foreign investment income is taxable on your U.S. return.
If you are paying foreign tax on that income, you may claim a credit against your U.S. for the amount paid to the foreign country.
See Foreign
Tax Credit for additional information.
In addition, you may need to report additional information about foreign accounts in certain situations. If at any time during the year the total balance of all your foreign accounts was more than $10,000, you will need to complete FinCEN Form 114 (formerly Form TD F 90-22.1). If you held foreign financial assets worth more than $50,000 at any time during the year, you might also need to complete Form 8938. We'll help you with this.
