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

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

Im an expat and if i have $12000 in my US account which is not income but its just my savings lying there then where do i show them in taxes? is it taxable or no?

im a US citizen living outside US all my life and just last year when i visitied US i moved some of my savings to my US account. is it taxable? where to show it on taxes?
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 Reply

Im an expat and if i have $12000 in my US account which is not income but its just my savings lying there then where do i show them in taxes? is it taxable or no?

You do not report the amount of funds you have in a US bank account on a US federal tax return.  You only report the amount of interest earned on those funds, if any, on a tax return and then only if your total income is above the minimum filing requirements.

Go to this IRS website for an interview on who needs to file a tax return - https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies