This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Taxation for interest paid to US citizen by UK firm

joehome
Posts:1
Joined:Mon Jan 17, 2022 8:28 pm
Taxation for interest paid to US citizen by UK firm

Postby joehome » Mon Jan 17, 2022 8:33 pm

Hi,
I invested (financed) a property builder based in UK which paid out monthly interest on the amount invested (using Wise.com/Transferwise).
I am a US citizen and the money was paid in US $ to me directly in the US. I have a UTR (for some other investments I have made), but I wasn't sure tax implications for this interest money.
1. Do I need to file UK taxes to report this interest money?
2. Would I be able to just take the Wise.com statement of money coming in to report to the US IRS for US taxation purposes?

Any reply/guidance/comment would be great!

Thanks!

Return to “Income Tax”