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Where to enter foreign interest in Turbo Tax

Where to enter foreign interest in Turbo Tax

Old Apr 11th 2011, 4:35 am
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Default Where to enter foreign interest in Turbo Tax

Hi,
I have ~300gbp of interest from an ISA account to declare.
I'm using Turbo Tax but can't find the place to enter this. In the Interest and Dividends sections I see a sections for "1099-OID, foreign accounts". But it never asks me to input info on my UK interest.
Any thoughts?

Thanks

KK
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Old Apr 11th 2011, 3:09 pm
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Default Re: Where to enter foreign interest in Turbo Tax

Perhaps it is simply categorized as foreign earned income?
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Old Apr 12th 2011, 6:28 am
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Default Re: Where to enter foreign interest in Turbo Tax

From what I understand foreign earned income is for stuff like wages.
In the end I just entered the interest manually as a 1099.

KK
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Old Apr 13th 2011, 5:21 am
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Default Re: Where to enter foreign interest in Turbo Tax

Originally Posted by ImmortalNinja View Post
From what I understand foreign earned income is for stuff like wages.
In the end I just entered the interest manually as a 1099.

KK
You need to enter the foreign interest income on your Schedule B. As this is in an ISA, which is UK tax free, there won't be any tax credit to apply against US
tax. Creating a 1099-INT with your UK bank information and the interest converted to dollars is probably the way to get Turbotax to fill in the right information.
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