I am sorry but TurboTax is correct--- While I agree with deluded figure the process creates, the law appears not to have allowed for people moving monies between two reported accounts. Thus what it requires is that each account report the highest at any point in the year and also the sum total of all the accounts at their maximum. This is the way the rules are written for FATCA compliance -- all they are trying to do is to get all the accounts come under the regulation. I agree it seems counter intuitive and definitely results in inflated numbers when monies are moved between accounts. Sorry.
