I have a foreing account interest to report (similar to 1099 int) turbo tax is asking me which form and line and shcedule and line should I report it ?

[LindaS5247]

You can report this foreign interest as "other income" in TurboTax.

You can do this as follows using TurboTax Online:

1. Go to the "Wages & Income" section of TurboTax
2. Select "I'll Choose What to Work On"
3. Scroll down to "Less Common Income"
4. Select "Start or Update" next to Miscellaneous Income"
5. Scroll down to "Other Reportable Income "
6. Select Start or Update"
7. Enter your foreign income on the page that says "Other Taxable Income" (you can use "foreign interest" as your description)
8. Select "Continue"
9. Answer all of the follow-up screens.  

You can do this as follows using TurboTax Online:

1. Click on "Pick up where you left off"
2. Click on "Wages & Income" in the left panel
3. Click on "Less Common Income"
4. Scroll down to "Miscellaneous Income"
5. Scroll Down to "Other Reportable Income"
6. Click on "Start"
7. Follow the screens and answer all follow-up questions 

TurboTax will determine if you have to report your Foreign Income based on your answers.

If the value of  your foreign accounts exceeds $10,000 at any time during the calendar year, you are required to file an FBAR to report your foreign interest. You will have to file through this website, click here .

All foreign income must be reported on your tax return if you're a US citizen or resident. You are required to report all of your income, whether it was earned in the US or abroad.

If you lived and worked in a foreign country, you might qualify for the foreign income exclusion. TurboTax asks questions to see if you qualify for this exclusion.

Click here for "Do I need to Report Foreign Income?"

Click here for additional information on the foreign income exclusion.

Click here for additional information on foreign-earned income.