topic How do I enter data in Schedule 1? Usually I enter the Interest earned from foreign accounts in the Other Income line 8 in Schedule 1 in Business & farm

How do I enter data in Schedule 1? Usually I enter the Interest earned from foreign accounts in the Other Income line 8 in Schedule 1

rajunallappa-msn — Mon, 23 Feb 2026 09:37:02 GMT

I think I did what I usually do but for some reason the Schedule 1 is not appearing this year

DaveF1006 — Tue, 31 Jan 2023 20:21:12 GMT

It depends. Enter foreign interest the same that you enter domestic interest.

Please note you may need to file form 8938 if the following two conditions apply.

Unmarried taxpayers living in the US: The total value of your specified foreign financial assets is more than $50,000 on the last day of the tax year or more than $75,000 at any time during the tax year
Married taxpayers filing a joint income tax return and living in the US: The total value of your specified foreign financial assets is more than $100,000 on the last day of the tax year or more than $150,000 at any time during the tax Year.

Please read these IRS instructions regarding Form 8938.

rajunallappa-msn — Tue, 31 Jan 2023 22:43:00 GMT

Thanks. After posting the question, I further played around and found what I was looking for. Thanks again though.

Raju