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r2munjal
New Member

How can i i file the income from interest earned overseas and my rental property overseas

 
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1 Reply
Carl
Level 15

How can i i file the income from interest earned overseas and my rental property overseas

Basically, the same way you would if the income was generated in the U.S.

Report interest in the Interest and Dividends section. A 1099-DIV or 1099-INT is not required. While you "WILL" elect to start/update the sub-section called "Interest on 1099-INT", when entering the data the only thing you are asked for is the name of the payer, and the amount. That's it.

For the rental, when entering it in the Rental and Royalty Income (SCH E) section of the program, make absolutely certain you select the radio box that clearly identifies that the property is foreign property. Otherwise, your depreciation will be wrong.

 

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