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New Member
posted Feb 2, 2024 6:47:02 AM

Have tried to update foreign asset answer to 'no', but the software doesn't keep the "no" answer, instead purchase upgrade because of foreign assets

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1 Replies
Expert Alumni
Feb 6, 2024 1:55:34 PM

Yes, if you initially answered yes to this question, a form you don't need may be added to your tax return. Changing your answer to No won't get rid of the extra form. 

 

Try this:

 

  1. Open your return in TurboTax.
  2. Select Deductions & Credits.
  3. On the left-side menu, select Tax Tools, then Tools.
  4. Select Delete a form, from the list in the pop-up window. 
  5. Check the list for Form 8938, Form 1116, and Form 2555. If you have any of these forms in your return, select Delete next to the form.
  6. Confirm your Delete, select Continue. 
  7. Repeat until all foreign income forms are deleted, then Continue with my return.
  8. Select Income & Expenses from the left-side menu.
  9. Scroll to the bottom and select Done with income. 
  10. Answer No to Did you own or control a foreign bank account, trust or financial asset in 2023?
  11. Continue through the review process and file section to e-file your return.