To do this in TurboTax and see it on your return, it will depend on how it was entered.
Go to your search and enter 8938 and select the Jump to link in the search results.
Form 8938 must be completed, but the details must also be reported in the appropriate areas of TurboTax.
For more information, see: How do I file Form 8938, Statement of Specified Foreign Financial Assets?
For other foreign account reporting requirements, see:
Comparison of Form 8938 and FBAR Requirements
Do I need to file Form 8938, “Statement of Specified Foreign Financial Assets”?
How do I file an FBAR report (FinCEN 114)?
Report Foreign Bank and Financial Accounts | FinCEN.gov
2020 Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts
I could not file because TurboTax does not fill form 8938.
I am also facing the same issue. I entered multiple foreign financial assets and in the final tax return, I don't see any of them. Clearly turbotax is messing up something. Can somebody help me with this?
I have the same issue. Form 8938 is missing. no matter how many times I go back and fill in the information. It's not in the "form deletion" section, it's not there when I try to print it
Click this link to be sure that you are required to file Form 8938, Statement of Foreign Financial Assets.
This link has general info on Form 8938.
Since we can't see your return in this forum, you may want to consider using TurboTax Live if you can't resolve your issue.
Same issue here - I completed the section with my foreign assets but I don't see Form 8938 on my return.
Moreover, when I click 'Add/Edit 8938' it throws me into Foreign Financial Assets page again but all information I entered before was lost. This is clearly a bug in the software
I am using TT Premier Online 2021.
I need to include Form 8938 in my federal return (It has been annoying to see that several reviewers kep asking whether I need this form or not. I DO). I completed Form 8938, but when I checked on "Other tax situations", TT kept showing "Revisit" next to "Foreign financial assets", and all the info I previously entered was missing (i.e. not saved).
I went to Print Center, and select "Delete a form", and did not find Form 8938 any where.
I previously called TT several days ago and spent a long time over the phone, and the TT rep promised to send an inquiry to TT staff, with copy to me; but no copy of the promised email was received.
The funny thing was a TT tax expert replied, and advised to clear the cache, delete cookies and logout of TT. I reluctantly followed all the steps, and Form 8938 still is missing.
I also went on the internet, and saw many similar complaints from TT users in past years, and in 2020/2021, apparently the best TT could do was to send a CD or download version to the users in need to fix the same problem
I was finally able to solve the problem by filing it specifically under the “other tax” tab.
do not search for 8938 and file it. You have to go to the specific tab to do it.
thanks
I assume it's in desktop version - i don't even have Other Tax tab online
Form 8938 Statement of Specified Foreign Financial Assets is available in both the desktop and online TurboTax products under the Other Tax Situations tab which is found in the Federal section of TurboTax. In that section, you will see Other Tax Forms and then Prepare a report on foreign financial assets.
It’s the online version, at the very top you should be a few tabs. To the far right there is “other tax”
Hi Thomas,
The title of my posting ("Form 8938 is missing" is misleading and incorrect, and should read "TT Premier 2021 Online does not save Form 8938 in my return")
As described in the text of my posting, the problem I encountered is that TT did not save Form 8938 after I input all relevant data.
Once I log in again to check on my return (which at this time is not ready to be submitted because Form 1116 is not available on TT yet), I cannot find Form 8938, which is bizarre since TT is supposed to have saved all data previously input.
It may be that the form is not showing in your list of forms, but if you use the Open Form option above the list of forms, and type in 8938 the form will come up and it will be populated.
I'm hitting the same issue as well. Was just on the line for 1 hour with a representative that wasn't able to solve this. They say it's an opened issue and they are investigating this.
But as of now I'm blocked.
Even if I go through Other Tax Situations and fill it from there, the form doesn't appear in my 1040.
I was just able to make the form appear in the final report, then I logged out, logged back in, and it was gone! all of the accounts were reset!
Is anyone from TurboTax looking into this bug??
I'm expecting a refund if this isn't supported!
Has TT come up with a solution? Form 8938 keeps on disappearing!
I spoke again with TT over the phone, and they still can't provide an ETA for resolution since the eng team is actively investigating this. My guess is that it's not really on their high priority list.
Since I couldn't take the risk that the fix won't land on time, I asked for a refund.
I am facing the same issue. I also tried through the other tax situations tab and reentered the data 3 times with lot of combinations (mogging out, different browser, cleared cache, jump to 8938, other tax situations) and each time the system is pushing me to efile. I previewed the forms generated before efile and found that 8938 info is missing completely. It also forcefully made the 'do you have financial foreign asset' selection to No.
There is no acknowledgement from TurboTax that it is a bug. What is more concerning for me that previous year returns could also be missing this form due to this bug that I did not discover until today.
This must be fixed with priority, Turbotax - please help urgently!
We are currently experiencing a known issue with this issue. Please click here to sign up to receive an alert once this issue is resolved. @ranjana.ds
Carrisa,
I've been getting the same response that it's a known issue and the team is investigating for 5 weeks now. It's hard to imagine that we couldn't solve this by this timeframe, so it feels more of a prioritization issue. Also, searching online shows that this problem also exited in the past few years.
Can TurboTax provide an ETA for resolution? If not, can TurboTax add a warning during their registration process that they don't support form 8938 so people don't have to go through the entire process and find out about this at the end?
Just as an FYI, the fine for not submitting form 8938 can reach thousands of dollars, would TurboTax compensate people in case of such a fine by IRS?
All,
Just a quick update. So frustrated with Turbo Tax - I have been on the phone with them for more than 2.5 hours - sharing my screen trying to complete Form 8938 using different methods, clearing cache, using different browsers, using 'jump to 8938' from the search engine. We tried more than 6 times and of course, the form kept on disappearing, but at least the Turbo Tax employee has been able to see it with his own eyes. And again the same answer: known issue and we are working on it, but we can't give you an ETA. I was recommended to file an extension and to wait for the solution so I would be able to file before October.
What would be a good alternative to do electronic filing?
Exactly what happened with me, although I gave up after 1 hour over the phone, after they saw a live repro and all.
I ended up requesting a refund and went to a private CPA.
Really disappointed from TurboTax.
**bleep** I just filled this in twice, once on my original return, which I already filed. And now again for my amendment, which I would like to file except this form is missing.............. sigh.