@SusanY1 , on balance do you think it’s preferable to e-file and repeat the same information in the two forms or to print, indicating form 3520 on 8938?
On the one hand, I don’t want to confuse the IRS by submitting the information in both forms when the instructions are clearly to cross-reference. I’m concerned about appearing as if I hold double the amount that I actually own. So, for example, if I received a gift of $200,000, by duplicating the information, it may appear as if I own $400,000.
On the other hand, the IRS strongly prefers e-filing, as do I.
Thank you!
