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Deductions & credits
Have been using this same procedure for the past 8 years. But this Year, TurboTax is flagging it as "Needs review" besides the "Interest on 1099-INT" in the "Wages and income" section.
I have attached a screen shot. As you can see in the attached image, I was able to do it for 2019 (and have always been able to add it for precious years). But this Year, it does not accept it, because it INSISTS on mentioning the FEIN number for the Foreign bank, when I try to EDIT this section, which is not possible, since FEIN is relevant only for US banks and not for foreign banks(as they don't have any FEIN number).
I talked to TurboTax specialist and she does not seem to have an idea on how to handle this and said it was not necessary for me to enter the Interest from Foreign bank in the 1099- INT section, which would mean, I won't be paying any Tax for the Interest earned in the foreign bank.
Also, as you can see there is a specific option called "1099-OID, Foreign Accounts". Ever after I entered all these details there, but finally as you can see in the screen shot, TurboTax shows as $0.0 as Income for that section. (which would mean, I won't be paying tax on the interest earned from foreign bank)
Note: I already tried deleting the entries and manually typing them again. But that didn't work. It still insists for the FEIN number.
Please help.