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aiskander1
March 9, 2020
Question

Should I report my foreign bank accounts interest using the 1099-INT form? if not, how do I get to the Fincen Form 114 OMB on turbo tax and skip 1099-INT?

  • March 9, 2020
  • 1 reply
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K
KarenJ2
March 9, 2020

You need to report your worldwide income on the tax return.  You can use the 1099-INT input area to enter your foreign interest.

 

FinCEN Form 114 must be filed at the following US treasury website.  FBAR filing website

 

If you are talking about Form 8938, this form is included in TurboTax and you file it with your return.  The FBAR and form 8938 are just reporting forms, they are not for calculating income tax.   So you cannot skip the 1099-INT.

 

Comparison of Form 8938 and FBAR requirements

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