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1099-int from thai bank?

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what I need from my thai banks to report my tax to the irs? .

if I give them a w9 what will they say?

can they kicked me out of the bank because they are scared of irs?

  • Author

so guys are you frauding your fisc?

You dont' need at 1099-INT nor will the Thai banks give you one. You report your foreigner earned interst on Schedule B and transfer it to your 1040 Form, the same as you would your U.S banking interest. But, it is UP TO YOU to track and keep records of your foreign earned banking intersted in case the IRS contacts you and wants more information.

I'm with kyb789, just make the report on Skd B & the 1040, not a problem, been doing this for lots of years. Not a worry.

Mac

  • 11 months later...

You dont' need at 1099-INT nor will the Thai banks give you one. You report your foreigner earned interst on Schedule B and transfer it to your 1040 Form, the same as you would your U.S banking interest. But, it is UP TO YOU to track and keep records of your foreign earned banking intersted in case the IRS contacts you and wants more information.

Hey guys, can you offer some advice?

I just realized my Thai bank account earned interest. Therefore, I mistakenly did not report it to the IRS. It was only about $7. I use this account only to get my teacher pay and never had more than $2000 in it so not required to file a FBAR.

I now realize I should have done a scedule B but did not as my US interest was only about $100.

I owed no US tax but would hate for this to bite me one day. Should I file an amended return or just let it go?

Thanks.

Foreign banks do not issue 1099 and even US banks do not issue for small amounts - there is no requirement for a 1099 form but computer programs will likely make your reporting look as if they are printing onto such a form so a bit confusing. Just report the information you know is what I have always done and never had any question asked.

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