Schedule B or 1099 INT or Both?

[JDAR 2]

Hi Everyone.

 

My wife and I preparing our tax return. I am the LPR spouse. I have a foreign bank account in the UK which I received interest of just under 780 dollars.

Do we need to fill in Schedule B, 1099 INT, or both? Also do I put my name and social security number on these forms or my wife's or both? 

 

Any help would be appreciated. Thank you.

[MariaR323 199]

You would report your foreign interest income as if you had received a 1099-INT for that amount of interest - so this would eventually be reported on Schedule B.

 

I believe Sch B calls for the names on the return at the top of it and the primary taxpayer's SSN as well.

[JDAR 2]

Thank you Maria. Have a great weekend.

[Gitana 11]

yes you need Schedule B for interest income from foreign accounts and if your account is over 10k you have to file FBAR