How do I report a pension account as other foreign assets like in part II and VI of form 8938?

[david-aileen]

The only options in turboTax seem to be for Deposit and Custodial accounts. IRS Form 8983 also allows for other foreign assets summarized in part II with detail of the account to be provided in part VI. I need to enter foreign pension in Part VI section 8. Any suggestions on how to enter this data.

[DaveF1006]

Yes. I would report this as other foreign asset summary in Part 11 of the 8938. Then in part V1, you will give more details about the foreign pension. According to this link from IRS.gov, it states the following in regards on how this should be reported.

In general, the value of your interest in the foreign pension plan or deferred compensation plan is the fair market value of your beneficial interest in the plan on the last day of the year.   However, if you do not know or have reason to know based on readily accessible information the fair market value of your beneficial interest in the pension or deferred compensation plan on the last day of the year, the maximum value is the value of the cash and/or other property distributed to you during the year.  This same value is used in determining whether you have met your reporting threshold. 

If you do not know or have reason to know based on readily accessible information the fair market value of your beneficial interest in the pension plan or deferred compensation plan on the last day of the year and you did not receive any distributions from the plan, the value of your interest in the plan is zero.  In this circumstance, you should also use a value of zero for the plan in determining whether you have met your reporting threshold.  If you have met the reporting threshold and are required to file Form 8938, you should report the plan and indicate that its maximum is zero. 

[david-aileen]

Thanks, I understand how to report this using the paper form, I cannot find where to enter the information for  part II in TurboTax