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Topic: Offshore Savings  (Read 1024 times)

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Offshore Savings
« on: March 10, 2008, 07:47:20 AM »
I know I don't pay UK tax on the interest earned in my offshore account until it is remitted to the UK (and I haven't been here 7 years yet). But do I count that earned interest on my US taxes? And does that apply to other bank accounts as well, where UK taxes are already being taken out?

Thanks!
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    • British American Tax
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Re: Offshore Savings
« Reply #1 on: March 10, 2008, 05:48:20 PM »
All bank accounts get listed on your US sch B and Form TD F 90-22.1  Any tax withheld is taken on Form 1116.

Form TD F 90-22.1 is available on www.irs.gov.

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Liz Z i t z o w, EA
British American Tax

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