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Foreign incomes appear as $0 in the total income while I reported there were some capital gains and interest incomes.

 
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DaveF1006
Employee Tax Expert

Foreign incomes appear as $0 in the total income while I reported there were some capital gains and interest incomes.

The first image you see are entries made to report your foreign financial accounts for FBAR and/or 8938 reporting purposes. These do not get recorded as income in your return. If you have income from interest, dividends, and capital gains, then these are reported in the interest dividend, and capital gains income sections in your return.

 

If you reported 1099 INT, 1099 DIV, or sales from stocks and bonds, the information recorded may not show up as foreign income. The particular entry that is "0" relates to foreign earned income (working on a job) or income from a 1099 OID.  If you did not have income from these sources then that amount will be "0". 

 

 

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6 Replies
DawnC
Employee Tax Expert

Foreign incomes appear as $0 in the total income while I reported there were some capital gains and interest incomes.

Were your capital gains and interest from foreign sources?   Did you report foreign income?    Do I need to report foreign income?

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Foreign incomes appear as $0 in the total income while I reported there were some capital gains and interest incomes.

Hey DawnC - thanks for the reply. Yes I did have foreign incomes and thus I reported them in the foreign income section. 

DaveF1006
Employee Tax Expert

Foreign incomes appear as $0 in the total income while I reported there were some capital gains and interest incomes.

 To clarify, what exactly did your foreign incomes consist of?

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Foreign incomes appear as $0 in the total income while I reported there were some capital gains and interest incomes.

Thanks, they are consistent of interests, capital gains, and dividends from Foreign Financial Accounts and Other Foreign Financial Assets. The image below is not the actual values, but items are actually I added.

 

Untitled 3.jpg

 

After finishing inputting them, The income summary says that my income related to foreign accounts is $0, as shown below. 

 

Untitled 3.jpg

DaveF1006
Employee Tax Expert

Foreign incomes appear as $0 in the total income while I reported there were some capital gains and interest incomes.

The first image you see are entries made to report your foreign financial accounts for FBAR and/or 8938 reporting purposes. These do not get recorded as income in your return. If you have income from interest, dividends, and capital gains, then these are reported in the interest dividend, and capital gains income sections in your return.

 

If you reported 1099 INT, 1099 DIV, or sales from stocks and bonds, the information recorded may not show up as foreign income. The particular entry that is "0" relates to foreign earned income (working on a job) or income from a 1099 OID.  If you did not have income from these sources then that amount will be "0". 

 

 

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

Foreign incomes appear as $0 in the total income while I reported there were some capital gains and interest incomes.

That makes sense, thank you so much!

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