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sonlalwani
Mar 18, 2012, 09:55 PM
I have an Foreign saving account and I have about 8 ( eight ) $ of interest income in whole year


I understand that I have to mark yes if I have an foreign account on schedule B
But
? Do I have to report this 8$ foreign income on 1040
If yes then where on 1040
Do I have to submit some kind of proof that I got 8 $ of foreign interest ( foreign bank does not give 1099 Int

MukatA
Mar 19, 2012, 10:06 AM
You must report foreign interest income on schedule B. You do not need to submit any proof.

ebaines
Mar 19, 2012, 10:10 AM
You report interest on Schedule B, which carries onto Form 1040 line 8a.

By the way, If you have paid any foreign taxes on this income you can take a credit for the taxes paid by filing Form 1116.