Is money in a foreign savings account that I earned in that foreign country before moving to the US taxable by IRS? Is the total amount taxed or just interest?
If tax is only on interest, although there is a considerable amount of money in that account, the interests are less than 100$ per year. How does that get taxed? PS: im a resident alien
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1 Replies
MaryK4
Expert Alumni
Apr 15, 2020 3:19:06 PM
No if you did not earn the money while you were a resident alien, it will not be taxed. The interest will be entered and taxed as regular interest.