I know I don't need to file an FBAR nor Form 8938. (I've earned no interest on this account, which is worth about $5000) TT faces me with a "yes/no" question about foreign accounts, where if you answer "yes" it automatically requires you to upgrade to Deluxe for Form 8938, even if you say your balance was never $10k. I'm tempted to just say "no", since I know I don't need to file it.
It feels as though TT is forcing me to pay an extra $40 to file a form unnecessarily, or lie on my form. Very frustrated. Does this "no" remain on some account record as proof of a lie, or is it safe to say "no" as in "no, I don't have anything I need to declare"?
I understand what you are asking, however, your tax records need to disclose your foreign bank account even if you are not required to file other financial disclosure forms. Not reporting this foreign account would be inaccurate.
Here is what the IRS states:
So basically if you have any foreign bank account, you have to pay for $60 TurboTax Deluxe? Cool.
Yeah this is ridiculous. $60 for Turbo Tax to put 1 check-mark on a form they're already submitting...