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Josefh
Returning Member

Where to put the foreign interest income on FORM 1040 LINE 2B & on SCHEDULE B LINE 1?

Hi, am I supposed to put the foreign interest income on FORM 1040 LINE 2B & on SCHEDULE B LINE 1? I think this is the case, but I can't be 100% sure. I am sorry to have asked many questions already today - I need to file my tax return ASAP ... Thank you in advance !!!

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2 Replies
JamesG1
Employee Tax Expert

Where to put the foreign interest income on FORM 1040 LINE 2B & on SCHEDULE B LINE 1?

Report foreign interest as if you had an IRS form 1099-INT for it.

 

IRS Schedule B will not print unless it reports interest income of $1,500 or more.

 

In TurboTax Online, follow these steps:

 

  1. Down the left side of the screen, click Federal.
  2. Down the left side of the screen, click Wages & Income.
  3. Click the down arrow to the right of Investments and Savings.
  4. Click to the right of Interest on 1099-INT.
  5. At the screen Let's finish pulling in your investment income, click Add investments.

See also this help.

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Josefh
Returning Member

Where to put the foreign interest income on FORM 1040 LINE 2B & on SCHEDULE B LINE 1?

Thank you so much for your detailed explanations!!!

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