Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

US Checking & Savings Accounts

Options
  • 09-03-2015 8:37pm
    #1
    oB1
    Registered Users Posts: 706 ✭✭✭


    I opened a US Checking & Savings Account with Bank of America in 2013 while on a J1.

    I kept it open (am i allowed ? not sure..) -- i had a small amount of salary left over that i never withdrew before i left, time went by and i just forgot about it. I had a small re-occurring payment setup that transferred monies from checking in to savings every month.

    Recently, i got a notice to say that BofA sent a "Statement of earnings, form 1099INT" to the IRS.. it said i made 23USD on interest for last year, and paid 8.16USD in tax.

    coupla questions :P

    1. Does that mean i now have to file..
    2. Am i even allowed to file..


    has anyone any experience with this?


Comments

  • Options
    #2
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,912 Mod ✭✭✭✭Ponster


    If your 2014 earnings are less than $10,000 then you don't need to file.

    Someone else may come along who knows more than me though. I lived there for a few years and am currently filing for 2014.


  • Options
    #3
    spideog7
    Registered Users Posts: 1,230 ✭✭✭spideog7


    RobertHopkins wrote: »
    I opened a US Checking & Savings Account with Bank of America in 2013 while on a J1.

    I kept it open (am i allowed ? not sure..) -- i had a small amount of salary left over that i never withdrew before i left, time went by and i just forgot about it. I had a small re-occurring payment setup that transferred monies from checking in to savings every month.

    Recently, i got a notice to say that BofA sent a "Statement of earnings, form 1099INT" to the IRS.. it said i made 23USD on interest for last year, and paid 8.16USD in tax.

    coupla questions :P

    1. Does that mean i now have to file..
    2. Am i even allowed to file..


    has anyone any experience with this?

    If you made $23 at today's interest rates you must have a fair lump in there. You'll have to file if you want the $8.16 back, otherwise you should be grand.


  • Options
    #4
    oB1
    Registered Users Posts: 706 ✭✭✭oB1


    spideog7 wrote: »
    If you made $23 at today's interest rates you must have a fair lump in there. You'll have to file if you want the $8.16 back, otherwise you should be grand.


    literally have $45 in that account:

    BofA.JPG



    Interest.JPG


    thanks, hopefully all will be ok


Advertisement