To enter Gains/ Losses info on Form 8938, here are the 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
- Follow prompts
- On screen "Amounts Related to Foreign Financial Assets", enter info under Gains/Losses
Per IRS, there are two types of foreign financial assets: 1) Foreign Financial Accounts; and 2) what the IRS calls "Other Foreign Financial Assets." On the form, you will be asked about each type separately because the IRS requires different information for each type.
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