My client received interest from a bank account in UK. They send a notice at the end of the year, we convert to US $ and report the interest. It is over $10,000 US $ in Principal. So, do we file Form TD F 90-22.1?
Do you run across this often? When it says in the Schedule A instructions you can check NO if the combined value of the accounts was $10000 or less during the whole year it isn't talking about the interest earned is it? It is talking about the principal?
Do you run across this often? When it says in the Schedule A instructions you can check NO if the combined value of the accounts was $10000 or less during the whole year it isn't talking about the interest earned is it? It is talking about the principal?
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