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lenchen
Jan 14, 2008, 03:02 PM
Do I have to enter the calculated dollar amount on the line "taxable interest" in the 1040 Schedule B?
Would it be right just to put the name of the bank there and calculated dollar amount or is is a wrong form for this pupose? I couldn't find any other place I could possibly fill it in...

Thanks
twinkiedooter
Jan 14, 2008, 07:23 PM
Wish I knew the answer to this one. Maybe you could ask Chaney?
AtlantaTaxExpert
Jan 15, 2008, 09:51 AM
Put the bank name and the calculated interest on Schedule B.

That should suffice, since the IRS has NO paper trail from the foreign bank to validate your figure.

Unless it is a large amount (over $1,000), they will take the figure at face value.