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Level 2
posted Mar 12, 2022 8:38:53 AM

Creating a statement to sum up foreign interest and dividends

I have 4 accounts in my Schedule B providing me dividends in 2021. 2 of the 4 accounts are foreign accounts. Since I need to declare  in my Form 8938 where the foreign interest and dividends are reported, I need a way to sum these dividends up somewhere so that I can put it in Part III of Form 8938.  Schedule B only shows the sum of all my interests (line 1) and dividends (line 5).

 

How do I then show in my returns the sum of foreign dividends?

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1 Replies
Level 7
Mar 14, 2022 12:01:41 PM

If the dividends are from 1099-B you don't have to report these in form 8938.

The accounts are maintained by US financial institutions.

  • if you are required to file Form 8938, you do not have to report financial accounts maintained by:
     
    • a U.S. payer (such as a U.S. domestic financial institution), 
    • the foreign branch of a U.S. financial institution, or 
    • the U.S. branch of a foreign financial institution.

 

You must report your financial accounts maintained by a foreign financial institution in 8938.

 

Click on the link for more information

 

Form 8938