Get your taxes done using TurboTax

You can enter your foreign interest income as if you have received 1099-INT for this income.

To do that in TurboTax follow these steps:

1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
2. Next click on “Wages & Income” ("Personal Income" in TurboTax Home & Business)
3. Next click on “I’ll choose what I work on” (jump to full list)
4. Scroll down the screen until to come to the section “Interest and Dividends”
5. Choose “ Interest on 1099-INT” and select “start’
6. Select "I'll type it in myself"
7. Enter the name of the foreign bank and the amount (in USD) in box 1

Note: You may have to file form FinCEN114, if your foreign account(s) exceed $10000 at any time during 2020.  You have to file it through the Treasury website: http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html