Per the Forms Availability FAQ, Form 8938, Statement of Specified Foreign Financial Assets, is scheduled to be finalized on 2/11/2021, which is one day before the IRS starts accepting tax returns.
To get to the 8938 section in TurboTax (requires Deluxe or higher):
- Open or continue your return if you're not already in it.
- Search for 8938 and select the Jump to link at the top of the search results.
- On the Foreign Financial Assets screen, select Yes, I have foreign financial assets
- Answer yes or no to living in a foreign country, and select Continue.
- Answer yes or no to amount of foreign financial assets, and select Continue.
- Carefully follow the instructions. If you need Form 8938, we'll fill it out for you.
Tip: Foreign real estate isn't considered a foreign financial asset, nor are foreign investments (if owned through a U.S. brokerage or listed on a U.S. exchange) or money in a foreign branch of a U.S. bank. Form 8938 isn't required in these situations.
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