@DaveF1006
Hello,
Thank you very much for your reply. I have switched the answers in TurboTax to no, but when reviewing my answers it prompts me to check my Schedule B (1040) Interest and Ordinary Dividends form, specifically 7a of Part III: Foreign Accounts and Trusts.
The form says: "You must complete this part if you (a) had over $1,500 of taxable interest or ordinary
dividends; (b) had a foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust"
7a states: "At any time during 2024, did you have a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreign country? If "Yes," are you required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114 and its instructions for filing requirements and exceptions to those requirements"
7b states: "If you are required to file FinCEN Form 114, list the name(s) of the foreign country(-ies) where the financial account(s) are located:"
7a is currently marked yes (probably from me previously filling out that I have a foreign bank account). The only thing I am allowed to change is 7a from yes to no.
I would appreciate any advice you have as option b of the form (having a foreign bank account) is applicable to me. Thank you very much for your time.
