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smallakane
Returning Member

Foreign interest income - 1099-OID?

Hi,

 

I have question regarding to "foreign interest income" from my foreign bank accounts. 

Note that, I have more than $50,000 from my foreign bank accounts as a unmarried taxpayer. In addition, I do not receive any 1099 forms from my foreign bank accounts.

 

1. When I search 8938 in Turbotax, it jumps to "Foreign Financial Assets" page. 

It seems that this belongs to "1099-OID, Foreign Accounts" under "your income" section.

I filled in the information, and have a question for "Amounts Related to Foreign Financial Assets". In "Amounts Attributable to Foreign Financial Accounts" page, do I fill in interest income under "Interest"?

 

After I click "Continue": In "Items Attributable to Foreign Financial Accounts" page, I see my interest amount, how to fill in "Form and Line" and "Schedule and Line"? 

 

2. If I fill in foreign interest in 1099-OID (8938), do I need to report foreign interest again in 1099-INT? In 1099-INT, if I fill manually, I do not find "FATCA filing requirement" box though.

 

Thanks so much,

 

Kate

 

 

 

 

 

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