Hi there,
I want to report a bug of Turbotax Home and Business 2023: When filing additional 8938 copies, if Part V is filed to report an account, there is an error anyway if none of the boxes in line 22 are checked. However, it might be the case that none of the situations apply to the account. And if none of these situations apply, the taxpayer is still required to file the account.
Thank you for your account.
Best Regards,
Kun
To clarify, why are you filling out a 8938? If it is for reporting a foreign financial asset, what type of an asset is it?
Hi Dave,
Thank you for asking! I am required to file 8938 by FATCA as I met the threshold. The bug is triggered when I file a deposit/custodial financial account.
Hope this clarifies the situation a bit. Let me know if you have any more questions. Thank you.
Best Regards,
Kun
Yes, if you have a 8938 filing requirement, you must file. If there is no data on your screen for the amounts related to financial assets, Box 22d in Part 5 must be checked. Since you have Turbo Tax Home and Business, go to your forms mode in your return. Select 8938 in your list of forms, then check to see if Box 22d is checked. If it isn't checked, place a check mark in Box 22d.
Let me know if this clears the error.