Last year I used Taxact to do my taxes. In the "miscellaneous" section of the return I was asked to put bank accounts in. Is this a required part of a normal tax return? I don't remember this from previous years and I don't see it on Turbotax.
If it is part of the return, do I put all bank accounts I have? And I am filing jointly with my wife this year for the first time, so do I put all of her accounts too?
Just seems strange.
Thanks for the help
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US Bank accounts are not entered on a tax return. You do have to enter any interest received from a bank account and reported to you on a Form 1099-INT or dividends reported to you on a Form 1099-DIV.
If you want a direct deposit of a tax refund or to pay the taxes owed by direct debit you have to enter a bank routing number and account number.
If you have Foreign accounts, depending on the amount in the foreign account, you have to report those accounts using Form 8938 or use FinCen Form 114.
Thank you. So do you think this section where I added a bank account last year was just for direct deposit? (I would assume that would be at the end, not in the actual process).
I do not have any 1099s
@avigo45 wrote:
Thank you. So do you think this section where I added a bank account last year was just for direct deposit? (I would assume that would be at the end, not in the actual process).
I do not have any 1099s
That would be my assumption.
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