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glm3227
New Member

I have foreign account entry problem. it changes my foreign account box by itself. from no to yes. I have to pay Intuit more money to ask about glitch

 
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1 Reply
DaveF1006
Expert Alumni

I have foreign account entry problem. it changes my foreign account box by itself. from no to yes. I have to pay Intuit more money to ask about glitch

Chances are you have reported that you had a foreign account in the initial interview question and now the program is asking for information.  

 

  1. Go to federal>other tax situations>Other Tax Forms
  2. Prepare a report on foreign financial assets>start or edit
  3. First Question asks if you have foreign financial assets say no. This should remove the entry.  If not, go further until you have assets over the specific amounts mentioned, say no. This should remove the form.
  4. You may check to see if Form 8938 is in your list of forms in your return.  if this is the case go to the left black panel of your return and select tax tools>tools>delete a form.  If a 8938 appears, delete it.
  5. Sign out of your return and sign back again if you made any of the changes I suggested above. This should remove the erroneous errors that are occuring.

Now, if you have reported foreign interest and reported a foreign tax paid on a 1099 INT or 1099 DIV, this might be an issue as Turbo Tax is trying to be helpful in helping you receive a foreign tax credit.  if this is the case, you may go to either of these forms ( if you had these forms in the first place) and remove the foreign tax paid. If this is the case, you will look in Box 6 of the 1099 INT or Box 7 of the 1099 DIV to remove the foreign tax paid. 

 

Anyhow, if these suggestions don't work and you still have this error, you may wish to go to the black left panel of your program and select tax tools>tools>clear and start over.  This solution is offered as a last resort if your previous attempts fail. 

 

 

 

 

 

 

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