Question

Schedule B Part III Foreign Bank Account

Accepted Answer

Interview questions for Part III of Federal Schedule B (Form 1040) only appear automatically in the TaxAct program if you have:

over $1,500 of taxable interest or ordinary dividends,
had a foreign account,
received a distribution from, or were a grantor of, or a transferor to, a foreign trust.

If you want to answer those interview questions anyway, or you want to edit the info you entered, follow the steps below.

Online

Dashboard

From within your TaxAct return, click Taxes & Miscellaneous.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Click the Additional Tax Payments drop-down.
Click Add beside Foreign Accounts & Trusts.
Complete the rest of the interview process.

Classic

From within your TaxAct return, click Federal.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Click the Investment Income drop-down, then click Foreign investment account information.
Complete the rest of the interview process.

Desktop

From within your TaxAct return, click Federal.
Click the Investment Income drop-down, then click Foreign investment account information.
Complete the rest of the interview process.