If your total foreign assets values are less than $50K, you do not need to file a Form 8938. However, you might need to file a FinCEN Form 114 if your aggregate value of financial accounts exceeds $10,000 at any time during the year. For more information, click here: 8938 vs FBAR
To enter information in the program, here are the steps:
In TurboTax online,
- Sign in to your TurboTax account and select Pick up where you left off
- At the right upper corner, in the search box, type in "foreign assets" and Enter
- Select Jump to foreign assets
- Follow prompts
- On-screen, Amounts Related to Foreign Financial Assets, enter information
A FinCEN form is a separating filing from TurboTax. To file a FinCEN form, read instructions here: FinCen’s BSA E-Filing System.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
