Foreign 1099-INT -- Input Foreign Taxes Paid (TurboTax 2022 did NOT ask me about this like it did last year)

[shanesnh]

Hi all,

I have interest from a Korean bank (WOORI Bank). Of course, there is NO 1099-INT but I have to report it like there is one. Last year, it asked me if there were foreign taxes paid and other boxes related to a 1099-INT.

This year, the question didn't appear. I can manually see the worksheet form and I don't know if I need to type in the foreign taxes paid here or if I need to do any of box 6 a, b, c, d. I don't now much about this and it talks about Schedule A (I'm taking the Standard Deduction) and Form 1116 (I don't know if I need to do this as I already owe 0 and paid 0 in taxes due to Foreign Earned Income Exclusion)

Please advise.

Thanks in advance,

Shane Haddad

[DoninGA · Accepted solution]

When entering the interest income in the TurboTax interview, on the screen will be a box to check labeled My form has info in more than just box 1.  Checking this box will open up the 1099-INT so that you can enter the foreign taxes paid in box 6.

 The foreign taxes paid will entered as a tax credit on Schedule 3 Line 1.  The total from Schedule 3 Line 8 flows to Form 1040 Line 20 as a tax credit.