Skip to main content
March 29, 2021
Question

What should i enter for Payer's Federal ID Number, for mentioning interest of foreign bank accounts? Turbotax won't let me skip it.

  • March 29, 2021
  • 1 reply
  • 0 views
This was never a mandatory field previously.

1 reply

March 30, 2021

To avoid the e-file error, I will suggest you to enter under Other Income section.  Here are the steps:

 

In TurboTax online,

  • Sign into your account, select Pick up where you left off
  • To the right upper corner, in the search box, type in "other reportable income" and Enter
  • Select Jump to other reportable income
  • Next screen, Other Wages Received, select No to continue
  • Next screen, scroll down all the way to the bottom, under Other reportable income, select Start
  • Next screen, Any Other Taxable Income? select Yes to continue

This amount will show on line 2 of your Form 1040. As long as it's reported correctly on your tax return, IRS would not care if you entered through 1099-DIV section or "Other Income" path.