I’m working on my US taxes and as part of that I need to tally up all the interest I’ve earned in my UK accounts. Monzo helpfully provides an “Interest Statement” but mine appears to be incorrect… I downloaded the statement, which states I’ve earned “£146.01 in interest from [my] Savings Pots, Pots, and balance in [my] personal account, and [I] earned £3.28 from Savings Pots, Pots, and balance in [my] joint account.” That seemed a bit low to me, so I went into each individual savings pot and tallied up the monthly interest amounts. These totals came to £185.01, and I’m not sure how/why there’s a discrepancy here… Has anyone else seen something similar?
My immediate thought here is do you have the right dates on your statements? The statements in Monzo are aligned to the UK tax year, whereas you need to be working to the US tax year.
That’s a good thought, but the statement says 1st January - 31st December, which aligns with the US tax year. When I opened the account I did have to say I’m a US citizen, not sure if they adjust tax statements based on that.