Hello,I have a tax question. I'm an American, and I have an investment offshore. All of the earnings are held offshore too. Do I have to claim all of the interest earned on the investment, or just what I withdraw to my bank in the USA?

Thanks-Scott :)

Scott:

Under U.S. income tax law, ALL world-wide income (interest, dividends, capital gains, etc.) are subject to U.S. income taxes, so, yes, you must claim it all on your Form 1040.

I agree. Further, you likely need to file Form TD F 90-22.1 to report the investment. Some or all of your foreign investment may be a passive foreign investment company. See Form 8621.

Good catch on the Form TD F 90-22.1, something I keep forgetting. )-: