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user3224
Returning Member

Turbo tax error on form 1099 "Payer's fedral Id is invalid for electronic filing", how to report interest from foreign bank

Until last year trubo tax supported empty Fedral ID in form 1099-INT. But this year it fails in "Review" step and flags an error "Payer's fedral Id is invalid for electronic filing". Does that mean turbo tax no longer support reporting interest/foreign taxes paid from foreign bank having no USA Fedral ID.

Does it sound like a software bug which makes fedral ID a required field in form 1099-INT?

 

Turbo tax reports this error in Review -- Check my info -- "our completecheck™ to-do list".

 

I want to file taxes electronically can I still use turbotax?

 

 

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4 Replies
Anonymous
Not applicable

Turbo tax error on form 1099 "Payer's fedral Id is invalid for electronic filing", how to report interest from foreign bank

delete the ein - you don't need it to efile.   

user3224
Returning Member

Turbo tax error on form 1099 "Payer's fedral Id is invalid for electronic filing", how to report interest from foreign bank

Turbo tax does not accept empty EIN in 1099 and shows error in Review-> complete check step. It does not show ready to file state and shows message you have things to review. 

all 0's 00-000000 or all 9th 99-999999 is also not accepted by turbo tax.

 

Seems like trubo tax has made EIN mandatory. My foreign bank did not provide me any EIN possibly it does not have one.

@Anonymous 

 

LinaJ2020
Expert Alumni

Turbo tax error on form 1099 "Payer's fedral Id is invalid for electronic filing", how to report interest from foreign bank

You can report it under Other Income to e-file.  Here are the steps:

 

In TurboTax online,

  • Sign in to your account, select Pick up where you left off
  • To the right upper corner, in the search box, type in "other reportable income" and Enter
  • Select Jump to other reportable income
  • Next screen, Other Wages Received, select No to continue
  • Next screen, scroll down all the way to the bottom, under Other reportable income, select Start
  • Next screen, Any Other Taxable Income? select Yes to continue
  • Enter a description and the amount.

@user3224

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Turbo tax error on form 1099 "Payer's fedral Id is invalid for electronic filing", how to report interest from foreign bank

So its not required to report the income as a 1099? You can just use the income as "other", even for self employed? Because it's not accepting the payers EIN, it's my only income source.  

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