turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jmadden16
Returning Member

Foreign Bank Account Interest but no taxable income for 2019 - do i still need to file?

For all of 2019 I was studying abroad and did not earn any income, but did have a small amount of interest generated from a foreign bank account (the account's balance being way under the minimum for an FBAR).

 

Turbotax insists I must upgrade to Deluxe in order to file a 1040 because of having a foreign bank account, despite having a $0 return and no taxable income. Is this accurate? Do I need to file even with no income, because of this bank account interest?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
SusanY1
Expert Alumni

Foreign Bank Account Interest but no taxable income for 2019 - do i still need to file?

The amount of interest that you earned will be the primary determinant of whether or not a return is required to be filed in your case.  

 

Check this Interactive Tax Assistant to determine if you need to file: Do I Need to File a Tax Return?

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
SusanY1
Expert Alumni

Foreign Bank Account Interest but no taxable income for 2019 - do i still need to file?

The amount of interest that you earned will be the primary determinant of whether or not a return is required to be filed in your case.  

 

Check this Interactive Tax Assistant to determine if you need to file: Do I Need to File a Tax Return?

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies