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Level 2
posted Mar 11, 2022 12:47:22 PM

Creating statement to sum up foreign dividends and interest

Form 8938 throws up an error because I need to input where interest and dividends are reported (form/ schedule/ line). I have 3 accounts that adds up to the interest, and 4 accounts that add up to the dividends on my Form 8938.

 

When I go to Schedule B (ALL interests and dividends) Part 1, only 2 accounts are foreign accounts that should be declared on Form 8938. I cannot find where in Schedule B the dividends are coming up to the number on Form 8938.

 

Am I able to create a separate statement (or something) that will allow me to sum up interests and dividends due to foreign accounts, or what should I do?

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1 Replies
Level 7
Mar 14, 2022 12:06:03 PM

Interest and dividends are from Schedule B

 

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