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New Member
posted Mar 25, 2024 8:58:33 PM

TurboTax says I have a financial account in a foreign country, but I don't! Unchecked FATCA box and answered no to Q abt foreign accts. What can I do?

0 9 2594
9 Replies
Level 15
Mar 26, 2024 8:57:20 AM

To get past this in TurboTax Online: 

  1. Select Tax Home in the left pane
  2. On the Hi, let's keep working on your taxes! screen, select the dropdown on the right side of the Income & Expenses box, then select StartContinue or Pick up where you left off
  3. Select the dropdown to the right of Less Common Investments and Savings (1099-OID, contracts and straddles, etc.
  4. Select Start or Revisit to the right of 1099-OID, Foreign Accounts
  5. Continue through the following screens, unselecting any boxes that might have been previously selected incorrectly

New Member
Mar 26, 2024 10:30:37 AM

These instructions did not work for me.  I've been trying to deal with this for a couple of weeks. I've googled and looked on the forums.  No customer tech number, very frustrating. I even wiped the first attempt and started over thinking that would help.  But to no avail.  :(

New Member
Mar 26, 2024 10:37:51 AM

These instructions did not work for me.  I've been trying to deal with this for a couple of weeks. I've googled and looked on the forums.  No customer tech number, very frustrating. I even wiped the first attempt and started over thinking that would help.  But to no avail.  :(

Expert Alumni
Mar 26, 2024 12:11:42 PM

"These instructions did not work for me."

 

Are you using TurboTax Online or TurboTax Desktop?

 

In TurboTax Online, are you able to Start/Revisit the selection 1099-OID, Foreign Accounts under Less Common Investments and Savings?

 

Are you able to select None of the above at the screen Miscellaneous investment income?

 

Are you able to select No at the screen Foreign Financial Assets?

 

In TurboTax Desktop, follow these steps:

 

  • Select Federal Taxes across the top of the screen.
  • Select Wages & Income across the top of the screen.
  • Select I'll choose what i work on.
  • Scroll down to Interest and Dividends.
  • Select Start/Update to the right of 1099-OID, Foreign Accounts.
  • At the screen Miscellaneous Investment Income, select None of the above.  Continue.

@katmaxsan 

New Member
Mar 26, 2024 12:26:32 PM

Online, but I finally found a technical support line and called.  they waled me through and I'm good now.  Thank you.

New Member
Mar 28, 2024 10:47:40 AM

I was basically doing this exact thing to no avail. However, when I logged back on and followed your instructions, it worked. Thanks for your reply.

New Member
Apr 10, 2024 4:56:13 PM

The recommended process appears to work, but the “final” print I made still had the error in it.

Expert Alumni
Apr 10, 2024 5:08:38 PM

What error printed @JhDino4 ?

New Member
Apr 5, 2025 5:00:43 PM

Thank you!  This was the only tip that finally worked to clear the problem!