Foreign bank account interest but no income

saljas — Sat, 06 Mar 2021 17:08:39 GMT

As a student I didn't work the entire year abroad, but had some interest from the foreign bank account of about $150.

Since I did not work, I don't need to file the tax return, but do I then need to file the schedule B alone and how do I do that?

Re: Foreign bank account interest but no income

MaryM428 — Mon, 08 Mar 2021 03:07:05 GMT

You will qualify to file for free with TurboTax Free File.

In TurboTax report this using these steps:

Federal
Wages and Income
Less Common Income
Miscellaneous Income 1099-A, 1099-C\
Other reportable income

You will enter a Description and the amount of the interest received.

Federal law requires U.S. citizens and resident aliens to report any worldwide income, including income from foreign trusts and foreign bank and securities accounts

[edited 3/7/2021 | 6:05 pm PST]

topic Foreign bank account interest but no income in Deductions & credits

Foreign bank account interest but no income

Re: Foreign bank account interest but no income