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March 8, 2021
Question

FED ID is not present for non US banks. Facing a problem to submit my taxes since it is a mandatory field for 1099 but for foreign income I cannot add one.How to solve?

  • March 8, 2021
  • 1 reply
  • 0 views
How do I get over this and overcome the error reported during my turbo tax review?

1 reply

March 8, 2021

I will suggest you to enter under "Other Income".  Here are the steps:

 

In TurboTax online,

 

1.  Sign into your account, select Pick up where you left off

2. To the right upper corner, in the search box, type in "other reportable income" and Enter

3.  Select Jump to other reportable income

4.  Next screen, Other Wages Received, select No to continue

5.  Next screen, scroll down all the way to the bottom, under Other reportable income, select Start

6.  Next screen, Any Other Taxable Income? select Yes to continue

 

This amount will show on line 8 of Schedule 1 and Form 1040.  As long as it is reported on your tax return "somewhere", IRS will accept even though it was not reported on line 2, the interest line.