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Filled details of foriegn bank accounts (form 8938),but it doesnt show up in my Federal wages and income screen.(able to see this in previous filings). what is missing?

Why is turbo tax not showing foreign accounts section?
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2 Replies
LinaJ2020
Expert Alumni

Filled details of foriegn bank accounts (form 8938),but it doesnt show up in my Federal wages and income screen.(able to see this in previous filings). what is missing?

Maybe because the forms were not available yet.  As of today, this form has been available for both e-file and paper-file.   Make sure to update your program and try again.  Check forms update: Forms availability

 

  • If you are using the online version, it's an automatic update when you sign in and out. 
  • If you are using the TurboTax CD/Download software program, open TurboTax and select Check for Updates from the Online menu near the top.

To enter the Form 8938, here are the steps:

  • Open up your program if you have not done so
  • At the right upper corner, in the search box, type in "8938" and Enter
  • Select Jump to 8938
  • Follow prompts to enter info

 

 

If you live in the US and meet one of the following criteria, you would need to file a Form 8938.  

  • Unmarried individual (or married filing separately): Total value of assets was more than $50,000 on the last day of the tax year, or more than $75,000 at any time during the year.
  • Married individual filing jointly: Total value of assets was more than $100,000 on the last day of the tax year, or more than $150,000 at any time during the year.

For more information, click here: https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements

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Filled details of foriegn bank accounts (form 8938),but it doesnt show up in my Federal wages and income screen.(able to see this in previous filings). what is missing?

This is a software issue. I am using the online version, so no updating would be necessary. I and others have reported it but it has not yet been resolved. The data entry fields are live but the information disappears when you get to the document review section. If you go back to the 8938 section, all data entered is gone. 

 

The customer service person I talked to signed me up to receive emails when the issue was resolved. I received an email for a completely unrelated error for a different form.

 

This needs to be resolved. I have used TurboTax for a decade, but the difficulty in getting this resolved might make this year my last.

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