PDA

View Full Version : Taxation in USA for interest earned in foreign countries


somi9
Mar 21, 2008, 10:46 AM
Do you have to declare interest earned with USA tax filing if you earned this in a foreign country and already paid taxes in that country?

MukatA
Mar 21, 2008, 11:02 AM
Yes, if you are U.S. citizen or resident.
You will also claim credit for taxes paid in the foreign country. For this you will file Form 1116.

IntlTax
Mar 22, 2008, 01:26 PM
And if the foreign bank account value exceeds $10,000 at any point during the year, you need to file Form TD F 90-22.1.