topic Reporting interest income from Foreign Bank in Get your taxes done using TurboTax

Reporting interest income from Foreign Bank

main0stage — Sun, 06 Apr 2025 21:07:21 GMT

During 2024 i have received interest income in a Foriegn Bank Account. For 2023tax filing, I had reported this under 1099-INT by entering manual and all went wel..

In 2024TT, i notice that under Wage/Incomes --> Interests & Dividends there is an option called Foriegn Accounts. When i select this option, and go through all questions, which mostly center around FATCA etc., it ultimately tells me that "I do not need to report any asset". My interest income is $100 and during 2024, my foriegn bank account remained well below $10000 all the time.

Do i need to report foriegn interest?

Re: Reporting interest income from Foreign Bank

MaryK4 — Sun, 06 Apr 2025 21:56:03 GMT

Yes, the section you through was just the reporting of foreign accounts. You still need to repot the income in the interest section.

Re: Reporting interest income from Foreign Bank

GS1 — Mon, 13 Apr 2026 06:53:47 GMT

What is the FEIN Number should I provide. It is not letting me to submit without that, 00-0000000 or 11-111111 or all 9 are not working. i coudln;t file without providing the valid pin.

Re: Reporting interest income from Foreign Bank

RogerD1 — Mon, 13 Apr 2026 15:13:19 GMT

If you're reporting interest income in the Investments section of TurboTax, you can enter an a 1099-INT form (even though you wouldn't have gotten this form from your foreign bank), You will find 1099-INT in the Income section under Investments and savings (for the online version) or Investment Income (for the desktop version). Once you click +Add investments you can select Enter a different way then Type it in myself (for online TurboTax) or Skip Import (for desktop TurboTax). You can then click on the Interest tile, then select Continue. On the next screen, you will enter the name of the bank that gave you the interest and then in Box 1, you will enter the amount of the interest in dollars. This screen will not require an EIN for the bank.

If you paid Foreign tax on the interest, that can be entered in box 6. You can get to box 6 by checking the box for My form has info in other boxes. If you enter foreign taxes paid, you can claim a credit for those taxes in the Deductions and Credits section, in the section Estimates and Other Taxes Paid. Click on Start or Update on the Foreign Taxes category to get started.