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bnr
New Member

What to list for FEIN for foreign bank? Have interest from foreign bank - with no FEIN available,

 
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3 Replies
LinaJ2020
Expert Alumni

What to list for FEIN for foreign bank? Have interest from foreign bank - with no FEIN available,

You can leave it blank.   You can still e-file even with the error on the EIN.  Just continue to follow prompts to proceed. 

 

If it does not work, the last resort would be entering it as Other Income.  Here are the steps:

 

In TurboTax online,

  • Sign in to your account, select Pick up where you left off
  • To the right upper corner, in the search box, type in "other reportable income" and Enter
  • Select Jump to other reportable income
  • Next screen, Other Wages Received, select No to continue
  • Next screen, scroll down all the way to the bottom, under Other reportable income, select Start
  • Next screen, Any Other Taxable Income? select Yes to continue
  • Enter a description and the amount.
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abhiti
New Member

What to list for FEIN for foreign bank? Have interest from foreign bank - with no FEIN available,

I tried reporting foreign interest income as a regular 1099-INT. It started showing as something that needed review. I then tried to add it under 'other income'.

 

However now I cannot claim Tax Credit for foreign tax paid on this interest, since Turbotax says :

"You've met the requirements for taking the foreign tax credit without filling out Form 1116, but we don't see any foreign tax payments made (or there is no taxable income to apply the Foreign Tax Credit against)."

 

any solution?

SusanY1
Expert Alumni

What to list for FEIN for foreign bank? Have interest from foreign bank - with no FEIN available,

It sounds like TurboTax is saying that you have no tax to apply a credit to at all.  To check this look at your tax summary. 

 

  1. Log in to your tax return at TurboTax.com.
  2. Click on Tax Tools on the left side of the screen (you may need to click on Continue in the center first).
  3. Click on Tools.
  4. In the box that pops up in the center, click on View Tax Summary.

 

Look for your total tax here.

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