Solved: How to complete Part III of Schedule B

Chatter · ‎03-04-2022

Client has foreign bank account with less than $10,000. How do I check the yes box for interest in foreign account and no box for not required to file form 114?

Karl · ‎03-04-2022

It's on Int Screen 11, down in "Foreign Account and Foreign Tax Credit" section. Check the first box, but don't put a foreign country in the next box.

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Karl · ‎03-04-2022

It's on Int Screen 11, down in "Foreign Account and Foreign Tax Credit" section. Check the first box, but don't put a foreign country in the next box.

*If this (or another answer/reply) solves your problem, please click "Accept as Solution" to get this post out of the "Unanswered" queue of posts.*

Chatter · ‎03-05-2022

Thanks, Karl. The trick also is that you need to be in one of the interest accounts on screen 11 to get the option on the left hand side to check the box. I had been in the General section of screen 11 and the checkbox doesn't come up there.

Karl · ‎03-05-2022

Good addition. I agree, it's not where you'd expect it to be.

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How to complete Part III of Schedule B

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