SusanY1
Expert Alumni

After you file

The FBAR/FinCEN 114 report doesn't go to the IRS so there presently isn't routine cross-checking between the reports.  Although I am sure, if needed, the IRS can request that information. 

Since you over-reported the value, amending your tax return to adjust the value isn't as critical as if you had under-reported it. However, I understand that you would like for your records to be as accurate as possible.  For that reason, I would go ahead and file the amended return even though it will not change the tax on your return (it won't change your tax due or refund owed to you.) 

You will find instructions on how to do this in TurboTax HERE.

When you get to the part that requests an explanation, just indicate that you are filing to amend over-stated values on Form 8938 due to entry error.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post