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How do I enter additional tax in schedule 2 line 8 box C to report 1291INT?

Forum|Forum|6 years ago
June 3, 2020
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TurboTax Premier Online

Best answer by rjs

There is no way to enter Section 1291 interest in TurboTax Online. It can only be entered in forms mode. Forms mode is only available in the CD/Download TurboTax software, not in TurboTax Online.

Furthermore, TurboTax does not support Form 8621. You would have to fill out Form 8621 yourself. Since Form 8621 is not included in TurboTax, you would have to file your tax return by mail in order to attach Form 8621.

To enter Section 1291 interest in the CD/Download TurboTax software, click the Forms icon to go to forms mode. Open the "Form 1040 or Form 1040-SR Worksheet." Scroll down to Schedule 2 Part II. In the Additional Other Taxes Smart Worksheet, enter on line O the amount of interest from Form 8621 line 16f. TurboTax will then check box c on Schedule 2 line 8 and enter the code 1291INT and the amount.

You might prefer to seek professional help with this.

rjsAnswer

Employee

There is no way to enter Section 1291 interest in TurboTax Online. It can only be entered in forms mode. Forms mode is only available in the CD/Download TurboTax software, not in TurboTax Online.

Furthermore, TurboTax does not support Form 8621. You would have to fill out Form 8621 yourself. Since Form 8621 is not included in TurboTax, you would have to file your tax return by mail in order to attach Form 8621.

To enter Section 1291 interest in the CD/Download TurboTax software, click the Forms icon to go to forms mode. Open the "Form 1040 or Form 1040-SR Worksheet." Scroll down to Schedule 2 Part II. In the Additional Other Taxes Smart Worksheet, enter on line O the amount of interest from Form 8621 line 16f. TurboTax will then check box c on Schedule 2 line 8 and enter the code 1291INT and the amount.

You might prefer to seek professional help with this.

T

tt4arwAuthor

Thank you! How do I enter 1291Tax from Form 8621 16e to 1040 line 12a in Download Tax Software?

rjs

Employee

@tt4arw wrote:

Thank you! How do I enter 1291Tax from Form 8621 16e to 1040 line 12a in Download Tax Software?

On the Form 1040 or Form 1040-SR Worksheet, go to the Tax Smart Worksheet between lines 11 and 12 (closer to the top of the worksheet than the Additional Other Taxes Smart Worksheet). Enter the tax from Form 8621 line 16e on line H of the Tax Smart Worksheet. The description of line H is "Additional tax from Form 8621." TurboTax will check box 3 on Form 1040 line 12a, enter the notation 1291TAX on that line, and include the tax in the total on line 12a.