Foreign bank account H&R block schedule b

[Taxquestion123 0]

So I'm filling out my taxes on H&R block I answered the questions that I had a foreign bank account with over 10k and that I will file FBAR in the my info section. 

I added the interest I made on the 1099-int section. 

 

Is that all I need to do as far as foreign bank reporting goes apart from the FBaR form? Can't find a schedule B section in any of documents on H&r block. So I am to assume it will be auto generated now I answered the questions by saying yes. 

 

Schedule B seems to be the only schedule form that won't show up in the search bar at the end. I do have the 1099-int form added to the my income section. 

 

Just wanted to make sure I'm reporting the foreign bank question on my tax return. 

[Wuozopo 4,293]

Interest is reported on Schedule B, so the software should generate one. I use TurboTax so can’t really help with your finding the form on H&R software. 
 

[Taxquestion123 0]

1 minute ago, Wuozopo said:

Interest is reported on Schedule B, so the software should generate one. I use TurboTax so can’t really help with your finding the form on H&R software. 
 

Turbotax was my first choice but they wanted $40 to add the 1099-int. Free on H&R block

 

[QueenOfBlades 224]

As far as foreign bank reporting goes, probably.

 

Another one to keep in mind is FATCA, but the limits are higher. $50,000 if single, $100,000 if married filing jointly. I believe that has a wider range of assets that need to be reported however.

 

Do you have a retirement account? Savings account? In a trust? The different types of accounts can be treated differently for tax purposes, as well as the country itself because of tax treaties. These can make something tax-free in one country taxable in the US.

 

But yeah, FBAR and FATCA are the biggies.

Edited March 3, 2020 by QueenOfBlades