Question

Creating statement to sum up foreign dividends and interest

Forum|Forum|4 years ago
March 11, 2022
1 reply
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Form 8938 throws up an error because I need to input where interest and dividends are reported (form/ schedule/ line). I have 3 accounts that adds up to the interest, and 4 accounts that add up to the dividends on my Form 8938.

When I go to Schedule B (ALL interests and dividends) Part 1, only 2 accounts are foreign accounts that should be declared on Form 8938. I cannot find where in Schedule B the dividends are coming up to the number on Form 8938.

Am I able to create a separate statement (or something) that will allow me to sum up interests and dividends due to foreign accounts, or what should I do?

L

LoganathanB

Interest and dividends are from Schedule B

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