Details of form 8938 - Statement of Specified Foreign Financial Assets?

[Panky111]

Hi,
I live in the US and am filing my return as married filing jointly. Me and my spouse each have one foreign bank account and combined total value is more than threshold due to certain reason this year. However while filling the form on TurboTax, it is not asking the member name (me or my spouse) who held this foreign accounts and by default each copy of this form (for each account) prefills my name which  is not correct as I have one account and my spouse have one. 

Is this a bug in TT software ? Is it fine if all copies of form (for each bank account) have my name, though technically it is not correct as  one is owned by me and other by my spouse ? 
Appreciate your advice 

[MaryK4]

If you are filing a joint account, you only have to file one 8938.  The form does not ask you to specify the owner of the accounts.  

Lines 1 and 2
Enter your name(s) and TIN as shown on the annual return you are filing with Form 8938. If you are a specified individual, enter the first TIN shown on your income tax return.

See Lines 1 and 2

[Panky111]

Thank you for the response. However IRS instructions asks us to add copy of 8938 - one of each foreign bank account and fill in details of bank account in part V (i.e. Part 5), including account number and bank address. So, when I add a copy of these forms, it is not allowing me to change Line 1 and Line 2 in that additional copy so that I can replace my name with my Spouse name  (that copy will have bank details of my spouse foreign bank account). 

So wouldn't it be misleading that both copies of 8938 (one for my bank account and one for my spouse) have my name and SSN ? 

Appreciate your response. 

[DaveF1006]

If you and your spouse are filing together, you usually need only one Form 8938 for the tax return. This form should include information for both your and your spouse's foreign financial assets.

If the assets belong to your spouse, their name should be clearly indicated in the description section of the form, even if the primary taxpayer's name and SSN appear at the top of the form. While the name and SSN at the top will belong to the primary filer (you in this case), it's perfectly acceptable for the assets to be listed as belonging to your spouse. Use the "Other Information" fields or description areas in Part V to specify which accounts are your spouse’s.

[Panky111]

Thank you very much for your response. However I do not see "Other Information" or "Description" Section. Please see attached screenshot . Please let me know where can I enter my spouse name / information

[DaveF1006]

No. There is no description field as I previously said.  Both of your names will appear at the top of the form and your social security number is listed as the primary account holder. You only need one form to report all of the accounts and assets that each of you owns. Just as long as they are all reported, ‌the IRS is not strict in differentiating on who owns the account.  They are only concerned the accounts and assets are reported.