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Level 1
posted Mar 17, 2023 11:09:45 PM

In the 1099-INT, Payer/Recipient s' zip code and state is not able to apply the foreign country address.

0 4 512
1 Best answer
Expert Alumni
Mar 18, 2023 5:16:30 AM

Enter the interest from a foreign country as miscellaneous income. You can't enter the form directly with a foreign address. This will be taxed the same as if it were entered as a 1099-INT.

 

  1. Click on Federal on the left-hand side of the screen
  2. Click on Wages & Income
  3. Scroll down and click on All Income if Needed
  4. Scroll down to Less Common Income
  5. Scroll down to Miscellaneous Income, Click Start
  6. Scroll down to Other reportable Income
  7. Click start
  8. Enter the description and amount

4 Replies
Expert Alumni
Mar 18, 2023 5:16:30 AM

Enter the interest from a foreign country as miscellaneous income. You can't enter the form directly with a foreign address. This will be taxed the same as if it were entered as a 1099-INT.

 

  1. Click on Federal on the left-hand side of the screen
  2. Click on Wages & Income
  3. Scroll down and click on All Income if Needed
  4. Scroll down to Less Common Income
  5. Scroll down to Miscellaneous Income, Click Start
  6. Scroll down to Other reportable Income
  7. Click start
  8. Enter the description and amount

Level 1
Mar 19, 2023 7:12:21 AM

Thanks

Returning Member
Mar 24, 2023 11:20:21 AM

How do we get Tax credit on this Foreign int income?

Expert Alumni
Mar 24, 2023 12:53:56 PM

You will need to make two entries.  The first is to enter the income.  The second is to go to 'Deductions and Credits' in your federal return and scroll down to 'Estimates and Other Taxes Paid'.  Click start next to foreign tax credit and enter the foreign taxes that you paid there.  It's a lot of questions (and you'll have to enter the foreign income there as well) but it'll get you that credit.

 

@sanjay