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March 5, 2025
Question

Can someone help me understand where to fill foreign interest income and tax paid on that money

  • March 5, 2025
  • 1 reply
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I earned some money from bank interest in foreign country and paid tax over that in the foreign country too. where i should fill that info in tax return

    1 reply

    March 6, 2025

    Yes, I can help you with that! Here’s how to report foreign interest income and the tax paid on it in TurboTax:

    Reporting Foreign Interest Income:

    1. Open or continue your return.
    2. Go to 1099-INT interest income.
    3. Select Yes on the screen Did you receive any investment income? then Continue.
      • If you see the screen Your investments & savings or Here's your 1099-INT info, select Add investments or Add another 1099-INT, then Continue.
    4. On the next screen, select how you want to enter your Form 1099-INT:
      1. To manually enter the info, select Enter a different way, and follow the instructions to enter your 1099-INT.
    5. See screen shot below: When entering the interest income in the TurboTax interview, on the screen will be a box to check labeled My form has info in more than just box 1.  Checking this box will open up the 1099-INT so that you can enter the foreign taxes paid in box 6. 
    6. Finish the entries and TurboTax will help with the rest.

     

    For more detailed guidance, you can refer to the Intuit TurboTax Community