How do I enter additional tax in schedule 2 line 8 box C to report 1291INT?

[rjs · Accepted solution]

There is no way to enter Section 1291 interest in TurboTax Online. It can only be entered in forms mode. Forms mode is only available in the CD/Download TurboTax software, not in TurboTax Online.

Furthermore, TurboTax does not support Form 8621. You would have to fill out Form 8621 yourself. Since Form 8621 is not included in TurboTax, you would have to file your tax return by mail in order to attach Form 8621.

To enter Section 1291 interest in the CD/Download TurboTax software, click the Forms icon to go to forms mode. Open the "Form 1040 or Form 1040-SR Worksheet." Scroll down to Schedule 2 Part II. In the Additional Other Taxes Smart Worksheet, enter on line O the amount of interest from Form 8621 line 16f. TurboTax will then check box c on Schedule 2 line 8 and enter the code 1291INT and the amount.

You might prefer to seek professional help with this.

[tt4arw]

Thank you!  How do I enter 1291Tax  from Form 8621 16e to 1040 line 12a in Download Tax Software?

[rjs · Accepted solution]

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@tt4arw wrote:

Thank you!  How do I enter 1291Tax  from Form 8621 16e to 1040 line 12a in Download Tax Software?

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On the Form 1040 or Form 1040-SR Worksheet, go to the Tax Smart Worksheet between lines 11 and 12 (closer to the top of the worksheet than the Additional Other Taxes Smart Worksheet). Enter the tax from Form 8621 line 16e on line H of the Tax Smart Worksheet. The description of line H is "Additional tax from Form 8621." TurboTax will check box 3 on Form 1040 line 12a, enter the notation 1291TAX on that line, and include the tax in the total on line 12a.

[tt4arw]

You are the best!  I was able to enter both as you advised. Thank you a million!!!

I need to do the same to amend my 2018 return. The tax form of 2018 is quite different from 2019, I cannot find the place to enter 1291Tax “additional tax from form 8621”. Form 1040 line 11 looks equivalent to line 12 in 2019 form, but “additional tax from 8621” is not listed as an option. Where can I enter it in the 2018 tax form?  Thanks you in advance!

[rjs · Accepted solution]

Apparently there is no way to enter the 1291TAX in 2018 TurboTax. Sorry.

[tt4arw]

Thank you for checking!  I really appreciate your help!