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bjf2022
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I have been a customer of Royal Banks of Missouri for at least 10 years. They send me a 1099-INT each year. Why can't Turbo Tax find this bank for interest income?

Royal Banks of Missouri has a phone #[removed] & has multiple branches in the St Louis, MO area. Please look harder to tax information for Royal Banks of Missouri.

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4 Replies

I have been a customer of Royal Banks of Missouri for at least 10 years. They send me a 1099-INT each year. Why can't Turbo Tax find this bank for interest income?

Financial institutions choose to partner with TurboTax to allow importing of data---or they choose NOT to partner with TT.

 

NOT ON THE DROP DOWN LIST

If your bank or financial institution is not on the drop down list, click the words “I’ll type it in myself” and key in your information by hand.

 

 

See if your financial institution is on the Partner List - If not, you will have to enter the information manually.  

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

I have been a customer of Royal Banks of Missouri for at least 10 years. They send me a 1099-INT each year. Why can't Turbo Tax find this bank for interest income?

Essentially, your bank has to commit to creating your 1099-INT in a special format (that format is not the same as the paper 1099-INT you receive), and also, must provide TTX with a computer access port where TTX can access those specially formatted files.   Not all banks have sufficient computer staff or resources to do that.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

I have been a customer of Royal Banks of Missouri for at least 10 years. They send me a 1099-INT each year. Why can't Turbo Tax find this bank for interest income?

and why bother import 1099-INTs at all... generally just need the name and Box 1 total, they are very quick to input

I have been a customer of Royal Banks of Missouri for at least 10 years. They send me a 1099-INT each year. Why can't Turbo Tax find this bank for interest income?

sometimes financial institutions terminate their partnership with Turbotax.  you are correct, the only reason to import a 1099-INT is to make sure you make no mistakes on entering amounts 

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