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mr-swa60
New Member

i have a basic tax return to fill out. how do i bypass the question of the value of my foreign account. if i select no it implies that I do have an account?

 
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1 Reply
AmyC
Expert Alumni

i have a basic tax return to fill out. how do i bypass the question of the value of my foreign account. if i select no it implies that I do have an account?

Let's make sure we are on the same page.

The "do you have a foreign account" question is considered one of the most important questions on the tax return by the IRS. You don't bypass it. It must be answered yes or no.

The "value of your foreign account" is a different question and implies that you have maybe imported information with a foreign holding or answered yes to the first question.

 

To verify your answer to the first question, 

  1. return to the federal income section, 
  2. scroll done to the bottom 
  3. select done. 
  4. There are a series of critical questions there, including the foreign account. 
  5. Verify your answer is no.

If you are still being asked about foreign account value, check your brokerage statements for foreign accounts.

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