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-   -   Foreign Interest income (https://www.askmehelpdesk.com/showthread.php?t=644469)

  • Mar 18, 2012, 09:55 PM
    sonlalwani
    Foreign Interest income
    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
  • Mar 19, 2012, 10:06 AM
    MukatA
    You must report foreign interest income on schedule B. You do not need to submit any proof.
  • Mar 19, 2012, 10:10 AM
    ebaines
    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.

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