Question

Creating a statement to sum up foreign interest and dividends

Forum|Forum|4 years ago
March 12, 2022
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I have 4 accounts in my Schedule B providing me dividends in 2021. 2 of the 4 accounts are foreign accounts. Since I need to declare in my Form 8938 where the foreign interest and dividends are reported, I need a way to sum these dividends up somewhere so that I can put it in Part III of Form 8938. Schedule B only shows the sum of all my interests (line 1) and dividends (line 5).

How do I then show in my returns the sum of foreign dividends?

L

LoganathanB

If the dividends are from 1099-B you don't have to report these in form 8938.

The accounts are maintained by US financial institutions.

if you are required to file Form 8938, you do not have to report financial accounts maintained by:
- a U.S. payer (such as a U.S. domestic financial institution),
- the foreign branch of a U.S. financial institution, or
- the U.S. branch of a foreign financial institution.

You must report your financial accounts maintained by a foreign financial institution in 8938.

Click on the link for more information

Form 8938