collegian
Mar 8, 2014, 10:47 AM
Hello,
I will be filing my 2013 taxes as a resident alien. I know that I need to file FBAR form if the total amount at any point has been >= USD 10K.
My questions are:
1) Do I need to file the interest earned from that account irrespective of the total amount in the bank account? What if the total amount is < USD 10K?
2) If the answer to (1) is YES, then how do I convert the amount into USD? Do I just take the individual dates on which interest was paid over the whole year and convert the amount to USD and add up the whole thing?
Please give your suggestions.
Thanks.
I will be filing my 2013 taxes as a resident alien. I know that I need to file FBAR form if the total amount at any point has been >= USD 10K.
My questions are:
1) Do I need to file the interest earned from that account irrespective of the total amount in the bank account? What if the total amount is < USD 10K?
2) If the answer to (1) is YES, then how do I convert the amount into USD? Do I just take the individual dates on which interest was paid over the whole year and convert the amount to USD and add up the whole thing?
Please give your suggestions.
Thanks.