Deductions & credits

Yes, you do not report Credit cards on the FBAR or Form 8938.

Specified foreign financial assets include the following assets. 1. Financial accounts maintained by a foreign financial institution. 2. The following foreign financial assets if they are held for investment and not held in an account maintained by a financial institution. a. Stock or securities issued by someone that is not a U.S. person (including stock or securities issued by a person organized under the laws of U.S. possession). b. Any interest in a foreign entity. c. Any financial instrument or contract that has an issuer or counterparty that is not a U.S. person (including a financial contract issued by, or with a counterparty that is, a person organized under the laws of a U.S. Possession).

Please review page 7/16 of the IRS instruction for Form 8938 for a more complete list of foreign-specified financial assets.

Form 8938 Instruction

Also, review the link below:

Form 8938

To prepare Form 8938 in TurboTax:

ling Form 8938 is only available to those using TurboTax Deluxe or higher. To get to the 8938 section in TurboTax, refer to the following instructions:

1. Open or continue your return if you're not already in it
2. Search for 8938 and select the Jump to link at the top of the search results
3. On the Foreign Financial Assets screen, select Yes, I have foreign financial assets
4. Answer yes or no to living in a foreign country, and select Continue
5. Answer yes or no to the amount of foreign financial assets, and select Continue
6. Carefully follow the instructions. If you need Form 8938, we'll fill it out for you

See the link below for more information:

How to File

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