My wife is an international tax payer (US citizen) living in Canada and we're looking for an IRS acceptable tax program which will assist us to file her taxes. She has interest, dividends and stock transactions to report but no employment income. Most importantly, she has to report her foreign bank accounts on form 8938. Could anyone tell me if Turbotax supports what we need and if so what base product would do the job? Thank you so much!
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Yes, TurboTax supports. Since your wife is a US citizen, she is required to report worldwide income on your Form 1040 return if you file jointly. Although she does not live in the US, she would still file a US return just like other US citizens who reside in the US. You would include her income on your Form 1040. As far as the Form 8938, TurboTax supports this form as well. In addition, based on the information being provided, you would need TurboTax Premier edition as your product.
To enter foreign asset and create a Form 8938, go to:
Yes, TurboTax supports. Since your wife is a US citizen, she is required to report worldwide income on your Form 1040 return if you file jointly. Although she does not live in the US, she would still file a US return just like other US citizens who reside in the US. You would include her income on your Form 1040. As far as the Form 8938, TurboTax supports this form as well. In addition, based on the information being provided, you would need TurboTax Premier edition as your product.
To enter foreign asset and create a Form 8938, go to:
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