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pakonom
New Member

Why is TurboTax stating that "You have a financial account in a foreign country" when I do not?

 
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2 Replies
FangxiaL
Expert Alumni

Why is TurboTax stating that "You have a financial account in a foreign country" when I do not?

Try this to resolve your issue:

To update the information on foreign financial assets:

  1. Open or continue with your taxes
  2. In the Other Tax Situations section, click on Show more next to Other Tax Forms > click on Start or Revisit next to Prepare a report on foreign financial assets
  3. On the next screen, select No, I don't have foreign financial assets, and Continue.
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pakonom
New Member

Why is TurboTax stating that "You have a financial account in a foreign country" when I do not?

Many thanks for your response.  I tried that and it did not solve the problem, however...  I reviewed the results of importing my tax data from pdf forms, and found that box 12 (FATCA filing requirement) was erroneously checked by TurboTax while importing the 1099-R form data.  I cleared that box and the problem was resolved.

 

Thanks for your gracious willingness to assist, it is much appreciated!

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