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Help Center  >  Interest/Dividends/Taxable Refunds

Form 1099-INT – Foreign Interest – Checkbox for Mutual Fund or Regulated Investment Company

To indicate that a Form 1099-INT is foreign Interest for a mutual fund or a regulated investment company, follow these steps. 

Online
Dashboards
  1. From within your TaxAct return, click Income.
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection. 
  2. Expand Investment and Savings.
  3. Click Add beside Interest to add a new Form 1099-INT.  
    • If you already started entering a form, it will appear under My Income. You can click Edit for a form that was previously added. 
  4. Click Enter 1099 Manually at the bottom right. 
  5. Enter the payer information and box 1 amount as reported on the Form 1099-INT that you received. 
  6. Select Yes under Are there other boxes filled in on your 1099-INT?
  7. Scroll down to box 6 and enter the Foreign tax paid. 
  8. Select the Foreign country or U.S. Territory in box 7.
  9. Enter any other necessary information and Continue until you get to the Interest Income – Foreign Interest screen.
  10. Enter the amount of Foreign interest income included above and check the box Check here if this entry is for a mutual fund or a regulated investment company.
  11. Complete the rest of the interview process to finish adding the form. 
Classic Navigation
  1. From within your TaxAct return, click Federal.
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection. 
  2. Click the Investment Income drop-down, then click Interest income (Form 1099-INT).
  3. Click + Add Form 1099-INT to create a new copy of the form or click Edit to edit a form that was already created.
  4. Click Enter 1099 Manually at the bottom right. 
  5. Enter the payer information and box 1 amount as reported on the Form 1099-INT that you received.
  6. Select Yes under Are there other boxes filled in on your 1099-INT.
  7. Scroll down to box 6 and enter the Foreign tax paid. 
  8. Select the Foreign country or U.S. Territory in box 7.
  9. Enter any other necessary information and Continue until you get to the Interest Income – Foreign Interest screen.
  10. Enter the amount of Foreign interest income included above and check the box Check here if this entry is for a mutual fund or a regulated investment company.
  11. Complete the rest of the interview process to finish adding the form. 
Desktop
  1. From within your TaxAct return, click Federal.
  2. Click the Investment Income drop-down, then click Interest income (Form 1099-INT).
  3. Click + Add beside Form 1099-INT to create a new copy of the form or click Review to edit a form that was already created.
  4. Enter the payer’s name and ID number and click Continue. 
  5. Enter amounts from boxes 1-4 and click Continue. 
  6. In box 6, enter the Foreign tax paid. 
  7. Select the Foreign country or U.S. Territory in box 7.
  8. Enter any other necessary information and Continue until you get to the Interest Income – Foreign Interest screen.
  9. Enter the amount of Foreign interest income included above and check the box Check here if this entry is for a mutual fund or a regulated investment company.
  10. Complete the rest of the interview process to finish adding the form.