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mybike95
New Member

I made a mistake on the question asking if I had a foreign account.

 
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4 Replies
KathrynG3
Expert Alumni

I made a mistake on the question asking if I had a foreign account.

To get back to this question in TurboTax, follow these steps:

  • From the left menu, select Federal
  • At the Wages & Income section, scroll down below All income to Interest and Dividends
  • 1099-OID, Foreign Accounts and click Revisit
  • Miscellaneous Investment Income: Check all that apply and click Continue
  • Foreign Financial Assets: Answer Yes or No whether you had foreign financial assets and click Continue

I made a mistake on the question asking if I had a foreign account.

I already filed via Turbo Tax and then saw that I mistakenly had said "yes" that I had a financial interest in a foreign country (Part III, 7a).  Do I need to amend and correct this?

JohnW222
Expert Alumni

I made a mistake on the question asking if I had a foreign account.

There's most likely no need to amend in this situation.

In the IRS article Topic No. 308 Amended Returns, the IRS suggests that "if the Form 8938, Statement of Specified Foreign Financial Assets (PDF) applies to you, file it with an annual return or an amended return."

However, since you inadvertently answered "yes" to the question and no additional information was necessary for your e-filed return to be accepted, you're most likely okay.

If the IRS contacts you about your response to the question, you can answer them then.

Please see the TurboTax article "Do I need to amend?" for additional information.

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LadyDi12
New Member

I made a mistake on the question asking if I had a foreign account.

I performed the steps noted below and made all correct changes and then I save the file, but it is not changed on the forms.

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