Form 8938

As we have multiple Canadian bank accounts, and we only received T5 form from these banks regarding the interest. While they do provide the total interest earned, they don't break down how much each account contributed to that interest.

So in Form 8938, the 22d check box is about "No tax item reported in Part III with respect to this asset", when should we select this option for each account?

956

Employee Tax Expert

Mar 28, 2024 11:18:53 AM

I would take the interest and break it up by percentage for each account. You may not be exactly right but you'd be pretty close and your total would be correct. Then you'll never check box d.

@bubucar

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Form 8938