topic I need to go back and change foreign bank account from no to yes. I can't find it in my Turbo Tax Home and business edition. Where is this question located? in Deductions & credits

I need to go back and change foreign bank account from no to yes. I can't find it in my Turbo Tax Home and business edition. Where is this question located?

dramagirl2019 — Tue, 04 Jun 2019 22:14:04 GMT

I initially answered the foreign bank account No only to find out my husband is a signer on foreign accounts. I am using Turbo Tax Home and Business

In the search box at the top of the page, type in foreign...

KarenJ — Tue, 04 Jun 2019 22:14:05 GMT

In the search box at the top of the page, type in foreign accounts and trusts and click the Jump to link.

Re: In the search box at the top of the page, type in foreign...

Tombstone Blue — Wed, 09 Mar 2022 22:01:29 GMT

No "jump to" just a bunch of people asking how do. I cannot find that link cannot find the form cannot change my answer from no to yes.

It asked if "I" had foreign accounts and i do not, but my wife does and it never asked about her.

Actually I do not think it matters as long as I file her FBAR. Am not sure what Turbo has to do with any of this.

Michael

Re: I need to go back and change foreign bank account from no to yes. I can't find it in my Turbo...

MarilynG1 — Wed, 09 Mar 2022 23:47:58 GMT

You are correct that you will file the FBAR outside of TurboTax.

However, you must indicate on your tax return whether at any time during the year you had a foreign financial asset.

Click this link for detailed info on Filing FBAR and Form 8938 (Statement of Specified Foreign Financial Assets).

Re: I need to go back and change foreign bank account from no to yes. I can't find it in my Turbo Tax Home and business edition. Where is this question located?

HV- — Fri, 25 Mar 2022 20:35:02 GMT

I’m using the free/basic version and was unable to find the foreign accounts section via the search option… Click-on the “Other tax situations” section link, that will take you to Uncommon Tax situations. Scroll down to “Other tax forms” and click to open the drop-down menu to see options. To revisit the question asking about having foreign assets, click-on “Prepare a report on foreign financial assets”.

Re: I need to go back and change foreign bank account from no to yes. I can't find it in my Turbo...

MarilynG1 — Fri, 25 Mar 2022 21:35:46 GMT

Form 8938 may not be available in the Basic version; you may be asked to upgrade.

Try typing '8938' in the Search area, then click on 'Jump to 8938' if you don't see the link under 'Other Tax Situations'.

Click this link for more info on Entering Foreign Financial Assets.

@HV-