Do I have to report foreign dividends and interests, if total amount is below USD 1500 in form 1040? And if yes, where?

Yes - If you are a US citizen and you meet the income threshold to file a US income tax return, you will need to report all income from all sources (including foreign dividends and interest (in USD)) on your US income tax return.

The only time you do not have to report interest and dividends is if it is < $0.50 and rounds to zero.

Also if you have foreign financial accounts, you will need to answer "yes" to these questions in the TurboTax system.

To report foreign interest (including your foreign tax credit) -

You can include this under the 1099-INT section. Just make sure that you include this amount in USD. Also, if you paid any foreign taxes on this interest income, you will be able to take a Foreign Tax Credit for taxes paid on income that is also taxed in the US.

The Internal Revenue Service has no official exchange rate. In general, use the exchange rate prevailing (i.e., the spot rate) when you received the income. Please refer to the following IRS links for more information about Foreign Currency and Currency Exchange Rates and Yearly Average Currency Exchange Rates

To enter interest income in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "1099int" in the search bar then select "jump to 1099int". TurboTax will guide you in entering this information.

1. Choose “ Interest on 1099-INT” and select “start’
2. Select "I'll type it in myself"
3. Enter the name of the foreign bank, the amount of foreign interest income (in USD) in box 1
4. Check the box "My form has info in more than just box 1 (this is uncommon)".
5. Enter any foreign taxes paid in box 6

To report foreign dividend income (including your foreign tax credit) -

To enter interest income in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "1099div" in the search bar then select "jump to 1099div". TurboTax will guide you in entering this information.

1. Choose “ Dividends on 1099-DIV” and select “start’
2. Select "I'll type it in myself"
3. Enter the name of the brokerage firm/foreign corporation and the amount (in USD) in box 1a (You will need to check if your foreign dividends are considered qualified dividends).
4. Check the box "My form has info in more than just box 1 (this is uncommon)".
5. Enter any Foreign taxes paid in Box 6.