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Reporting interest income from Foreign Bank

During 2024 i have received interest income in a Foriegn Bank Account. For 2023tax filing, I had reported this under 1099-INT by entering manual and all went wel..

 

In 2024TT, i notice that under Wage/Incomes --> Interests & Dividends there is an option called Foriegn Accounts. When i select this option, and go through all questions, which mostly center around FATCA etc., it ultimately tells me that "I do not need to report any asset". My interest income is $100 and during 2024, my foriegn bank account remained well below $10000 all the time.

 

Do i need to report foriegn interest?   

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Accepted Solutions
MaryK4
Expert Alumni

Reporting interest income from Foreign Bank

Yes, the section you through was just the reporting of foreign accounts.  You still need to repot the income in the interest section.

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1 Reply
MaryK4
Expert Alumni

Reporting interest income from Foreign Bank

Yes, the section you through was just the reporting of foreign accounts.  You still need to repot the income in the interest section.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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