TurboTax on my Mac doesn't have a place in EasyStep for me to enter an EIN for the "type it in myself" 1099-INT, nor a place to enter the address of the property. I need to have that information included so that the IRS can match it with the 1098 my child is filing.
I switched to Forms and there is a place at the bottom of the Form 1099-INT to enter the Payer's TIN and address. However, it won't accept a Social Security number in this field. It says the "Payer's Federal ID Number is invalid. You must enter a valid employer identification number."
So apparently I can't do this with TurboTax?
If you issued a 1098 to your child, and sent the IRS their copy, the IRS has all that information (Payer's SSN, Payer's Address)
As long as you report the interest on your return, you're good.
You don't need an EIN or 1099-INT to report the interest income. All you need is to enter the name of the payer (your child) and the amount of interest.
The IRS does not need you to list the information from your child's 1098 on your return so that the IRS will match you, they will look for that matched interest reporting on both of your returns because of the 1098 you issued.
