Question

Why Turbo tax doesn't report the amount entered for interest earn on foreign financial account? Is there a bug?

Forum|Forum|1 year ago
February 16, 2025
1 reply
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I was able to fill my foreign accounts and interest. Also fill the page 'where reported' where I indicate the amount the form, schedule and line. But nothing appears on the scheduleB

SusanY1

It sounds like you are talking about the entry area for on Form 8938. This is an information only return, and doesn't have any live calculations. Part of the data reported on the form itself is the line numbers where the income can be found on the Form 1040 and its Schedules.

You will need to enter the interest in the interest income section of TurboTax for it to calculate in your return properly.

If you are entering this data somewhere other than the Form 8938 (report of foreign financial assets) section please let us know where you are seeing the questions asking for the form and line numbers.

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S

sy-fiolleauAuthor

Hello,

Thank you for your reply.

I entered the interest on one page where it's indeed asked where it should appear:

But still nothing appears in my return. Is it normal?

DaveF1006

It seems I reach the threshold in terms of values not the interests earned. But it seems that it corresponds to the cumulated amount on the foreign account. So I'm above the threshold. However I have one account less than last year. How should I indicate this?

To clarify, what do you mean you have one account less than last year? Do you mean you have an account value less than the reporting threshold?

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