molly2022
Returning Member

1040 schedule B part III Foreign Accounts and Trusts

Hello,

 

I have a question about foreign accounts and assets. I answered two "YES" to the question in Turbotax online as below in the first picture. I later learned I shouldn't have checked the second box since I don't have any signature or other authority. I was told by Turbotax that I should just amend it when I receive my return money.

 

Based on the generated schedule B though, I feel like it might work out anyways so I'm looking for some help. Is how I answered the question having an impact on schedule B (the second picture)? My sense is that since it's an "either-or" question, either or both of the two boxes I'm dealing with might generate the same form, as the second picture. I do have a foreign bank account and saving over the threshold so I'll need to file FBAR separately. That's why I figure I might be able to stick to what I have now. But not sure if I screwed up anything here or elsewhere with the federal or state return. I'd appreciate your help!

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