topic Hi everybody, I was wondering if anyone ran through a similar situation with turbotax regarding the requirement to file form1040, and hence to upgrade? in Get your taxes done using TurboTax

Hi everybody, I was wondering if anyone ran through a similar situation with turbotax regarding the requirement to file form1040, and hence to upgrade?

sleemmz — Sun, 12 Apr 2020 23:18:24 GMT

Re: Hi everybody, I was wondering if anyone ran through a similar situation with turbotax regarding the requirement to file form1040, and hence to upgrade?

sleemmz — Sun, 12 Apr 2020 23:20:31 GMT

First I get this message "Based on what you told us, it turns out you don't need to report your foreign financial assets." then this one at the very end when im about to file "

To accurately complete your taxes, you need to upgrade to TurboTax Deluxe

Why do I need to upgrade?

You have a financial account in a foreign country, and that's just one of the reasons the IRS requires you to file Form 1040.

TurboTax Free Edition does not cover this situation

Re: Hi everybody, I was wondering if anyone ran through a similar situation with turbotax regardi...

ThomasM125 — Mon, 13 Apr 2020 00:03:46 GMT

If you have an account in a foreign country, that needs to be reported on schedule B. That is why you have to upgrade your TurboTax program, as schedule B is not included with the free TurboTax service.

Re: Hi everybody, I was wondering if anyone ran through a similar situation with turbotax regardi...

sleemmz — Mon, 13 Apr 2020 00:11:11 GMT

Thank you Thomas.

I'm still confused, as after I provided all the info on turbotax "free version", I got this message ""Based on what you told us, it turns out you don't need to report your foreign financial assets."

if don't need to report, then why upgarde?

Re: Hi everybody, I was wondering if anyone ran through a similar situation with turbotax regardi...

MaryK4 — Mon, 13 Apr 2020 00:23:02 GMT

Unfortunately, because we cannot see the details on your tax return, you may want to call in so a live assistant can help. See What is the TurboTax phone number?

There may be another tax situation that requires the upgrade.

@sleemmz

Re: Hi everybody, I was wondering if anyone ran through a similar situation with turbotax regardi...

sleemmz — Mon, 13 Apr 2020 00:40:52 GMT

Thank you MaryK!