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Thanks again. My major confusion is not with the principal portion, but the gain, which is generated. YEs, I could take the principal as I wish once I paid the tax. Being over 59 1/2, not tax, no penalty on withdrawal. But, there is a five years clock ticking for the gain. As far as I know, that portion would be taxed, and also incur a 10% penalty. How about this?

@user17636035548  agreed  about the contents of page 8 and page 9 of the ref'd  document.  All they are looking for is that (a) recognition that a foreign financial account exists, (b) the identity of the admin/ entity  and type of entity etc.  and (c) value in US$ of the account. Since you do not own an interest in the entity itself, line 35 is not appropriate. Line 36 ( trying to cover a broad set of circumstances ) is also somewhat confusing.  Therefore  my general pref. ( despite  8938 instructions to the contrary) of using " custodial account" as type -- this is especially true when you have something similar to "self-directed  IRA account".   Recogniton of the  foreign account is more important than exact type of account or entity -- IMHO.  Have not come across any case law on this specific issue esp. when the holding entity is immune from reporting requirements. Is there more I can do for you ?    

As I stated in the post , when I call the loan dept, they state that it’s a TurboTax issue and they transfer me to TurboTax. TurboTax then passes me back to loan dept. I’ve called everyday that they aren’t able open , still no help. I’ve tried to have the issue escalated and I was told I would be contacted in 3-5 business days, it’s day 8 … still nothing.

The basis of property inherited from a decedent is generally one of the following. The FMV of the property at the date of the individual's death. The FMV on the alternate valuation date if the personal representative for the estate chooses to use alternate valuation. For information on the alternate valuation date, see the Instructions for Form 706. The value under the special-use valuation method for real property used in farming or a closely held business if chosen for estate tax purposes. This method is discussed later. The decedent's adjusted basis in land to the extent of the value excluded from the decedent's taxable estate as a qualified conservation easement. For information on a qualified conservation easement, see the Instructions for Form 706.   The valuation on the 706 is your basis because that is the real FMV since the valuation discount takes the Lack of Control and the Lack of Marketability into consideration.....and those are both factors in the FMV calc anyway. Also you could run into problems if you don't use the figure from the 706 - the IRS checks closely.

@VolvoGirl    I think what @leafnose wanted to know was whether the business program's UI and "guts" were similar to the desktop personal editions. In other words, if the business edition will run on Windows 10, why can't Intuit simply "allow" (or alter) the desktop personal editions to run on Window10?   Personally, I don't have to answer but I do know that the programs are distinct and separate (i.e., you can install the business edition and a desktop personal edition on the same computer). Further, the virtually infinite number of changes that will be involved in the personal editions, as a result of the recent legislation enacted, is not going greatly affect the business editions modules (1041, 1065, 1120/S).

Apply for a Flex Loan https://turbotax.intuit.com/personal-loan What is the Turbo Tax Flex Advance and questions? https://ttlc.intuit.com/turbotax-support/en-us/help-article/loans/whats-turbotax-flex-advance/L2Xg6In6b_US_en_US?uid=mhz8qpz8

Apply for a Flex Loan https://turbotax.intuit.com/personal-loan What is the Turbo Tax Flex Advance and questions? https://ttlc.intuit.com/turbotax-support/en-us/help-article/loans/whats-turbotax-flex-advance/L2Xg6In6b_US_en_US?uid=mhz8qpz8