Foreign financial assets

Forum|Forum|3 years ago
February 12, 2023
2 replies
24 views

I have checked the button "No, I don't have foreign financial assets." on the page entitled "Foreign Financial Assets", yet TurboTax keeps checking the "Yes" box on Schedule B, line 7a which asks if at any time in 2022 did you have an account in a foreign country.

How do I change that "Yes" to a "No"?

If this can't be answered here, how do I contact Intuit directly?????

Best answer by DaraLO

Just to follow up, I did contact the 800 number yesterday and was helped by the person providing the online session. There is a problem in the TT software that has not been resolved in my case. We are waiting for tomorrow's update to attempt to delete the entire Sch B and then redo it. In addition, the return is now locked in that the software did so when I printed out a physical version as a backup. Somehow that will need to be fixed if I want to e-file, but that's the least of my concerns right now. If nothing works, I will have to buy some whiteout to erase that Yes response to the foreign asset question.

Not a good look for TT at the moment. I have been using this for over a decade and this is the first time that I have had a significant glitch that couldn't be fixed.

After tomorrow's update, clear your browser's cache and cookies before signing back into your account.

In addition, since you've only printed (and not mailed or e-filed) your return, you can go back in to continue working. The instructions in the following Help Article can offer assistance: I want to change a return I've printed, but haven't...

DaveF1006

Level 15

it depends. Did you have a foreign tax carryover from a previous year?

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johnwiesenfeldAuthor

Level 2

No.

johnwiesenfeldAuthor

Level 2

PS Something else very bad has happened with this return. TT now has congratulated me on e-filing the return and I can't access the return at all other than to print it out. I never told it to file and the pdf still contains that error. I have been using TT for over a decade. Nothing like this has ever happened.

I need to track this down asap. BTW, I have received no confirmation in any form whatsoever, so I'm guessing that this return is now stuck somewhere in your system in a broken state. How do we get this fixed?????

danmunikaplan

Level 2

None of the FATCA boxes had been checked on my 1099-D, but the box in 7a was still showing Yes as to my having a foreign account. I had to delete Schedule B entirely, and re-enter all the data for that form. Several hours of work rechecking entries, researching the problema and re-entering data because TurboTax doesn't fix software bugs. This is the second year that I encountered a TT software problem. I won't be using them again. The product is a time waster.