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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?

 
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8 Replies
JohnW152
Expert Alumni

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?

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
katmaxsan
New Member

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?

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.  :(

katmaxsan
New Member

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?

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.  :(

JamesG1
Expert Alumni

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?

"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 

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katmaxsan
New Member

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?

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

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?

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.

JhDino4
New Member

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?

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

DawnC
Expert Alumni

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?

What error printed @JhDino4 ?

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