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How do I complete IRS Form 8938, Part III?
I completed 8938 because I have a Foreign Deposit Account (Specified Individual), but no Other Foreign Assets . A German bank account that earns no interest, dividends, royalties, etc.,--I entered all Zeros. The account is merely reported because it exceeds the threshold and I entered my bank info (Part V) accordingly, along with the maximum $ value during the 2022 tax year. When I compete the "Smart Check," I receive multiple flags on 8938 where I had placed all the Zeros in Part III, Column C. It's asking for entries, specifically in Part III, Columns (D) Form and line; and (E) Schedule and line. I cannot enter any information there because there is no reporting requirement for Zeros. Would anyone know what to enter in columns D and E, during the "Smart Check?' I just don't want to ignore it and leave it blank. Should I just enter "N/A?" Thanks.
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‎February 13, 2023
8:28 PM