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-   -   US tax requirements on foreign bank interest (https://www.askmehelpdesk.com/showthread.php?t=58535)

  • Jan 29, 2007, 09:22 PM
    nj_butler
    US tax requirements on foreign bank interest
    Hello tax helper,

    I am a US citizen who went to medical school in Canada. After graduating in 2005, I sold my apartment and kept all the money in a Canadian funds GIC account. I have earned several thousand in Canadian dollars in 2006. I am trying to figure out what my tax obligations are to both the IRS and Canadian Rev. Agency. Is this part of my taxable income for my US filing and do you think I also have to file in Canada?

    Thanks for your help.
  • Jan 29, 2007, 10:10 PM
    AtlantaTaxExpert
    Do not know about Canada, but you MUST report the interest earned on your U.S. tax return.

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