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Box 7 on Form 1099-INT (Interest Income) reports the foreign country or US territory that was paid tax on the interest income. For interest income from a US bank, Box 7 will be blank since this does not apply.
Received a credit from my bank for opening it and Box 7 on the 1099-INT is blocking me from finalizing it although it is US money. Although there are a few more questionable options of various, other, RIC, HTKO and 909 Income. Don't know what any of those codes mean and cannot find a google search answer for them? Trying to figure out what to click?
Does your 1099-INT contain an entry for Box 6 - Foreign tax paid? If it does, Form 1099-INT will also have the country where the tax was paid in box 7.
If your 1099-INT has blank boxes for both 6 and 7, then you should go back into your return in TurboTax and find this 1099-INT entry in the Step by Step instructions and remove any entry you have in box 6.
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