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jptax17
Returning Member

No right place to enter interest from Foreign Bank without FEIN. It asks for a valid FEIN.

The online version also does not support adding anything other than investment.
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4 Replies
SusanY1
Expert Alumni

No right place to enter interest from Foreign Bank without FEIN. It asks for a valid FEIN.

From the investments screen under Wages & Income select the option for 1099-INT (even though you don't have this form).  This will allow you to enter the name of the foreign bank, and the amount of interest received without requiring the FEIN.  If you paid tax (or had tax withheld) from this interest be sure to also visit the foreign tax credit section for credit on those taxes paid.  

 

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jptax17
Returning Member

No right place to enter interest from Foreign Bank without FEIN. It asks for a valid FEIN.

It will allow you to enter but will Fail in the final e-file validation whether it is Turbo Tax online or desktop  version (I checked both even paid the filing fee in Desktop) .

In Desktop it used to go in last year but not anymore. As of now I applied for extension.  It looks despite many people complained Turbo Tax never bothered to fix it. This is my last year with Turbo tax. I will move on to better product next year (this issue wasted more than a day for me amid other crucial work).

jptax17
Returning Member

No right place to enter interest from Foreign Bank without FEIN. It asks for a valid FEIN.

just FYI, I First tried 1099-INT only. 1099-INT in final validation will not accept Blank FEIN, 11-1111111 or 99-9999999 or 00-0000000.  My question is if 1099-INT is not the place then were else to enter these details (other income would no work as those dont have foreign taxes paid). Effectively Turbotax is useless for anyone who works abroad or has any investments in foreign banks which earns interest. 

DianeW777
Expert Alumni

No right place to enter interest from Foreign Bank without FEIN. It asks for a valid FEIN.

It may be best to print and mail your tax return to get past this review check. The FEIN is not usually required when making an interest income entry. 

We at Intuit TurboTax want our users to be completely delighted with their experience using our products and services, and successful in their financial lives and businesses.

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