Foreign financial assets

[johnwiesenfeld]

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?????

[DaveF1006]

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

[johnwiesenfeld]

No.

[johnwiesenfeld]

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?????

[DaveF1006]

If you do not have foreign tax payments or carryovers, try the following;

1. Log into your TT account.
2. Go to tax tools>tools>delete a form
3. Delete all forms that are labeled 1116, 1116 Schedule B, worksheet referencing 1116.
4. Go back to your return and log out and back in again.

Let us know if this works.

[DaveF1006]

Print the return out including any worksheets. See if there is a 1116 form and/or a 1116 Schedule B in the return.. If there are no forms, you are good. If there are blank forms without any data, you are good. 

Let us know the results.  Also when you log into your return, does the landing page show that the return is accepted or pending?

@johnwiesenfeld 

[johnwiesenfeld]

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.

[DaraLO · Accepted solution]

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...

[johnwiesenfeld]

I use a Firefox browser and have set it up to clear out all cookies, etc., whenever it closes. I will also take your suggestion to clear it out manually.

The second suggestion of beginning a new state return was key to getting this fixed. From there, I was able to figure out how to go to the Tax Tools and delete Schedule B, which automatically deleted the 1099-INT and -DIV worksheets. These I reentered manually. During the review process, TT asked me for the information concerning the foreign assets, which I answered in the negative. I believe this is the key point, because TT previously had taken this information directly from Fidelity and I never saw those questions about the foreign assets. Something got glitched in the return logic at that point.

Anyway, now Schedule B prints correctly with NO as the response to 7a.

Many thanks. 

[johnwiesenfeld]

By the way, I just wanted to close the loop on this one. The day after I reported that the problem had been solved I went back into my return on TT and found that Schedule B line 7a had reverted to the incorrect response of Yes without any input from me. 

Something's clearly wrong here and needs to be addressed. Fortunately I had downloaded a pdf of the correct complete return with worksheets from the previous day, so I was able to print out a paper return which has been filed. I really don't think I got my money's worth out of this year's TT and will be trying something else next year. Thanks to the employees on the forum that tried to help, but this year really didn't work out.

[danmunikaplan]

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.