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Returning Member
posted May 31, 2019 7:35:01 PM

Foreign account combined interests are more than 49 cents

I have 2 foreign accounts of the same bank. Individually the interests are 49 cents or less but combined are 84 cents. Do I have to treat them as a single foreign account and therefore report them?

0 2 850
1 Best answer
Level 15
May 31, 2019 7:35:02 PM

it is your choice -- but I would just lump them together

2 Replies
Level 15
May 31, 2019 7:35:02 PM

it is your choice -- but I would just lump them together

Returning Member
May 31, 2019 7:35:06 PM

I was planning to report them as separate account even though individually the interest is less than 49 cents. One is a saving account in USD and the other is a saving account in country's local currency. This way I'm reporting them but at the same time I keep the detail that these are in fact 2 different accounts. I'm not sure if turbotax allows to enter the account number to tell one from the other. I could not find it. If not I think I would do better if I lump them together.