# 1040 Schedule B



## vpnitro (Jul 3, 2015)

If I have a foreign bank account and it did not generate $1600 on interest income for the previous tax year do I still need to file a form schedule b with my US tax return? 


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## vpnitro (Jul 3, 2015)

vpnitro said:


> If I have a foreign bank account and it did not generate $1600 on interest income for the previous tax year do I still need to file a form schedule b with my US tax return?
> 
> 
> Sent from my iPhone using Tapatalk




Sorry, meant to say $1500 in interest income.


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## Bevdeforges (Nov 16, 2007)

You do if your combined total balance in all your foreign accounts exceeds $10,000 (and then you have to file an FBAR to declare the accounts). 
Cheers,
Bev


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## BBCWatcher (Dec 28, 2012)

Actually Bev there's no threshold for Schedule B. If you're required to file a tax return, you're required to file Schedule B if you have a financial interest in or signature authority over a foreign financial account. The $10,000 threshold only applies to FinCEN Form 114.

So the answer to Vpnitro's question is yes, Schedule B is required.


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