During 2020 I received a foreign cash gift of over $100k which was deposited into a new foreign bank account (and subsequently remitted to the USA). I have completed Form 3520 (downloaded from IRS) to report the gift and also made a FinCen 114 filing to report the bank account.
I was doing Form 8938 in TurboTax and had gathered the various required details like bank name, address, account number etc. However, after first completing f3520, I came back to TurboTax and noticed that it says for f8938 "Only include accounts that have not already been separately reported on f3520..." . The forms screen in TurboTax also states that I do not need to include these assets in f8938 for the tax year, but just enter the number of Forms 3520 filed.
So my question is: Do I therefore NOT need to enter the bank info details for f8938 in TurboTax? Since Form 3520 only asks for the amount and date of the gift , but not the bank account details as in f8938, it seems that those details would be "missing" from the tax return (though they would be filed with FinCen).
Thanks for your help.
