topic I reported interest from a foreign account. How do I find what form and line it was reported on for Form 8938? in Deductions & credits

I reported interest from a foreign account. How do I find what form and line it was reported on for Form 8938?

randyb969299 — Thu, 06 Jun 2019 09:42:47 GMT

The short answer to your question is that if you are aske...

GeoffreyG — Thu, 06 Jun 2019 09:42:49 GMT

The short answer to your question is that if you are asked about the specific schedule and line where your foreign interest and / or dividends are reported, for purposes of completing Form 8938, you would answer that as follows. For interest income it will be Form 1040, Schedule B, Line 1. For dividend income it will be Form 1040, Schedule B, Line 5.

For a much more detailed discussion about this tax topic, please refer to the following AnswerXchange post:

https://ttlc.intuit.com/questions/3988314

Thank you for asking this important question.

Re: I reported interest from a foreign account. How do I find what form and line it was reported on for Form 8938?

AmirK — Sun, 02 Feb 2020 21:32:40 GMT

I have created form 8938 and reported interest of $8. this amount does not appear anywhere in my 1040 form and there is no schedule B generated by the tool. please advise how I get this foreign account interest reflected on my form 1040.

Re: I reported interest from a foreign account. How do I find what form and line it was reported ...

LinaJ2020 — Sun, 02 Feb 2020 23:02:41 GMT

You are required to file a Form 8938 when you are required to report your specified foreign financial assets if the total value of all the specified foreign financial assets in which you have an interest is more than the appropriate reporting threshold. To see details, click here 8938 vs FBAR. The number on this form does not get carried over to the Form 1040.

If you need to report a foreign interest as income, you would need to create a Form 1099-INT to report the information ( as if you receive one) and it will be carried over to your Form 1040

To create a Form 1099-INT, in TurboTax online, follow these steps:

@AmirK

Sign in to your TurboTax account and select Pick up where you left off
At the right upper corner, in the search box, type in "1099int" and Enter
Select Jump to 1099int
Follow prompts to report a foreign interest

Re: The short answer to your question is that if you are aske...

prabhacar007 — Wed, 08 Jul 2020 13:55:10 GMT

Thank you!

Re: The short answer to your question is that if you are aske...

groblercarla — Mon, 03 Apr 2023 02:24:04 GMT

On which schedule and line would "other income" be reported?

Re: The short answer to your question is that if you are aske...

VolvoGirl — Mon, 03 Apr 2023 02:32:07 GMT

Depends. What is the other income from? Did you get a tax form for it?