I had the same problem. No matter what I tried, I couldn't get the online edition to select "Yes" for Part III Line 7a–Question 1 (and then "No" for Question 2, in my case). The software seems to have a bug. Despite what the poster above says, it seems, in my non-professional opinion, that you should disclose whether you have a financial interest in a foreign bank account (per the 1040 instructions), regardless of it's value (per the definition of "financial interest"). Just because it's low value doesn't mean you don't have a financial interest. However, you may or may not need to file other forms, depending on it's value. Again, just my opinion, and please ask a tax attorney for actual advice.
Anyway, I managed to get Turbotax to select the right boxes by playing about with each screen, then exiting the walkthrough/interview before completing the whole section. Don't finish the interview or it will reset your answers to "No" (assuming you have less than $10k/100k, as applicable). I can't remember the exact sequence, but I would select a box, move on to the next screen, then click the "Tools" to view/print my return. Each time, I'd check to see what changed in Schedule B Part III of the actual form. Hope this helps someone (avoid perjuring themselves!).
