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Someone advised to just enter the information in the 1099-INT section, just be adding the amount and then adding the bank name. Unfortunately, TurboTax won't allow the return to be summitted without also entering the EIN of the bank. So, that doesn't work! You'd have to contact your bank and ask them for the EIN (since banks can have many EINs and you'd have to get the correct one). Am I wrong about this? If so, please post here.
An EIN is not required when entering bank interest earned on your accounts or Form 1099-INT. In the online version there is not an entry slot for it, and it is the same in the desktop version.
A suggestion is to delete your entry, then completing that section by continuing until you reach the Wages and Income page, then re-enter this interest amount. This way if it comes from an import you should be able to eliminate this experience.
Yes there certainly is a slot for an EIN number on mine. I googled it for my bank and found it, I emailed my bank and they wouldn't give it to me, they said you'll get it in the mail if you get a 1099-INT. Well it was just under $10 so I didn't get one. Like it's some big secret sheesh.
What do I put in because it's asking for the bank federal id#
If you did not receive a 1099-INT (or the Payer's EIN wasn't listed), you can report the interest income as "Other Reportable Income".
The tax calculation will be the same, you will be able to e-file and it won't create an error with the IRS.
You can make entries on Line 8, using the Other Reportable Income interview.
Type "other reportable income" in the search window (or in the Search Topic window for desktop versions)
Click on "jump to other reportable income (or "other reportable income" in the Search Topic results)
Answer "No" to "Did you receive any other wages?"
Select "Other reportable income" from the Miscellaneous income list
Select Add another Income item on the Other Miscellaneous Income Summary screen
Enter a Description (Interest Income) and amount, then click on Continue
A corresponding amount will be entered on line 8 of Schedule 1 and Form 1040, along with the description of "Interest Income"
Yes they will
I had the same issue where Turbotax was indicating that a FEIN was missing for the 1099-INT because I did not receive a 1099-INT since the interest income was under $10.
I reported the interest income using a 1099-MISC which only requires the payers name and the amount.
That seems to work as an alternate approach. You could also report it as other income and then identify it as interest income. This would be perfectly acceptable also.
I am looking for the Federal Tax ID for Fifth Third Bank. Same reason. No 1099-INT was generated by the bank because my interest was less than $10.
Fifth Third Bank is 31-0676865
@slimshady667
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