As you have taken all of the necessary steps to file 8938 already, it might be best if you use TurboTax Live which allows you to work with a tax expert to get into the program to figure out what is missing. To get to TurboTax Live, click here: TurboTax Live
You can also request an offline review if the issue persists.
If you live in the US and meet one of the following criteria, you would need to file a Form 8938.
- Unmarried individual (or married filing separately): Total value of assets was more than $50,000 on the last day of the tax year, or more than $75,000 at any time during the year.
- Married individual filing jointly: Total value of assets was more than $100,000 on the last day of the tax year, or more than $150,000 at any time during the year.
For more information, click here: https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements
To be specific how to enter the info under Form 8938, follow these 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
- On screen, " Foreign Financial Assets", select Yes, I have foreign financial assets and No to living in foreign country
- Next screen, "About the Amount of Your Foreign Financial Assets", select Yes to total value is more than $50,000 or 75,000
- Follow prompt
- Next screen, "Amounts Related to Foreign Financial Assets", enter your amounts
- Follow prompts
- Next screen, " Do You Have a Foreign Financial Account to Report?", select Yes
- Follow prompts
- On screen, " Do you Have any Other Foreign Financial assets to Report?" select No.
- Follow prompts.
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