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Do we need to report the interest from foreign bank account as income?

I have a question about interest of foreign bank account. My spouse and I have Foreign bank accounts and we received interests (total $0.34) in 2016. According to Turbotax, we tried to put the amount on our file, but we didn’t meet the page we could type in. Our total asset on the foreign bank accounts is under $10,000. In this case, don’t we need to report our interest of foreign bank accounts as income? Thank you for your advice.
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RichardG
New Member

Do we need to report the interest from foreign bank account as income?

Normally, yes you need to report interest from foreign bank accounts.  But in this case, the amount is rounded down to zero, so there is no need to report the 34 cents.

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1 Reply
RichardG
New Member

Do we need to report the interest from foreign bank account as income?

Normally, yes you need to report interest from foreign bank accounts.  But in this case, the amount is rounded down to zero, so there is no need to report the 34 cents.

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