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How do I report foreign earned interest income in Turbotax?

I received interest income from a foreign bank, and I don't have a 1099-INT. How do I report that income?

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4 Replies

How do I report foreign earned interest income in Turbotax?

To be more precise, I am wondering where to enter this foreign-earned interest income in Turbotax.

JamesG1
Expert Alumni

How do I report foreign earned interest income in Turbotax?

Report interest received from a foreign bank as if you were entering and IRS form 1099-INT.

 

EIN is not a required entry when entering the form.  In TurboTax Online, you will enter your 1099-INT as follows:

 

  • Down the left side of the screen, click on Federal.
  • Down the left side of the screen, click on Wages & Income.
  • Click to the right of Investments and Savings.
  • Click to the right of Interest on 1099-INT.
  • Click Add investments.
  • At the screen Let's import your tax info, select Enter a different way.
  • At the screen OK, let's start with one investment type, select Interest.  Click Continue.
  • Click Type it in myself.
  • Enter interest information.

Click My form has info in other boxes to enter Foreign tax paid in Box 6.

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javacplus
Returning Member

How do I report foreign earned interest income in Turbotax?

I am using Turbo Tax 2024 desktop version, and I was able to follow your instructions to submit foreign interest and dividend by manually entering the details. But the smart check throws an error. I am relatively new to foreign reporting, and it seems I might not be doing it correctly as per below link.

 

Solved: Re: I have a 1099-DIV from a foreign entity with a FEIN listed as 00-0000000. Turbo tax keep...

cc. @JamesG1 , @MarilynG1 

javacplus
Returning Member

How do I report foreign earned interest income in Turbotax?

I apologize for any confusion. On manually entering 1099-INT and 1099-DIV for foreign interest and dividend, TT desktop states "NEEDS REVIEW" if the EIN is not entered. But smart check passes and if a value like 00-0000000, 99-9999999, 11-1111111, 00-1111111 is inputted then the "NEEDS REVIEW" goes away but smart check throws a warning.

 

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