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New Member
posted Mar 30, 2020 8:08:42 AM

Tax Year Prior to 2020: Schedule B Part iii question 7a part 2 I should have answered no. do I amend if so how do I get to that question in the process?

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4 Replies
Expert Alumni
Mar 30, 2020 8:54:15 AM

It depends. To adjust this answer in TurboTax Online, follow these steps:

  1. From the left menu, select Tax Tools
  2. Tools
  3. Topic Search
  4. Type Foreign accounts and trusts, questions on schedule b and click Go
  5. This will bring you to the section of your return: Tell us about any foreign bank accounts

 

If you do have a foreign bank account that held $10,000 on any day during 2019, a FBAR (FinCEN 114 ) must be submitted.

To file the FBAR, click this link for the BSA E-Filing System for FBAR(FinCEN 114)

 

For more details:

2019 Schedule B including Part III Question 7a Part 2

 

BSA Electronic Filing Requirements For Report of Foreign Bank and Financial Accounts (FinCEN Form 114) page 10

2019 U.S. Citizens and Resident Aliens Abroad - Filing Requirements

 

Should I file FBAR (FinCEN 114), Form 8938, Form 3520 or all of these?

2019 IRS Comparison of Form 8938 and FBAR Requirements

2019 Form 8938 filing requirements

2019 FATCA Reporting, Form 3520

 

@swiatkowski1

Level 2
Apr 9, 2020 8:26:01 PM

I have the same question ... but I am using Turbo Tax Deluxe.  I have finished all work.  But need to change answers to Sch B Part III 7a and 7b.  Unable to access this portion.   Thank you.

Expert Alumni
Apr 9, 2020 8:39:55 PM

Go to the search box and type schedule B.

Click on the link Jump to schedule B.

From there you will have to go through the interview questions to edit your answers.

Level 2
Apr 10, 2020 7:32:57 PM

Thank you.  This question answered.