Form 8621 Net Capital Gain

[cmhenry1]

I have filed Form 8621 for many years.  In the past, I have filed on paper using H&R Block software with Form 8621 added onto it (and a few overridden entries in the software).  For 2019, I intend to file on paper using TurboTax with the Form 8621 appended to it

In past years, if I had a net capital gain for a Form 8621 investment, I was able to enter the gain on Line 11 of Schedule D, along with text indicating that it was from Form 8621.  Can I do that in TurboTax?  TurboTax has sub-lines for Line 11, not including Form 8621 among the choices.  (H&R Block had a text box for entering Form #'s for Line 11.)

See also my further message below.

Thanks in advance for your help!

cmhenry1

[cmhenry1]

(deleted)

[cmhenry1]

I have access to a friend's copy of H&R Block 2019.  Their software still does provide a spot where I could override the Form number, as in prior years.  Would it be possible for TurboTax to add a Line 11 sub-line for other forms not listed, for purposes of this capital gain entry?  I didn't expect to find a feature in the H&R Block software that I prefer over TurboTax.

I might be able to hand-write Form 8621 on Line 11 on the paper copy, but I can't legitimately check any of the checkboxes for Line 11 in TurboTax.  Can I simply override the total figure for Line 11 and not have a problem?

Thanks again,

cmhenry1

[KarenM90]

Form 8621 (Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund) is not included in the standard TurboTax software package.

In order to use and file Form 8621 properly (I wouldn't recommend over-riding the Form) with TurboTax, complete the rest of their tax return in TurboTax, fill out Form 8621 manually, and then "insert" the completed Form 8621 into their tax return documents. (This is the recommended method to file with this form included in your return)

The return would need to be filed on paper with this attachment.  Finally, they would then paper-file (not e-file) their complete tax return, including Form 8621.  This tax return filing would be sent to the normal, regular, IRS office where taxpayers in that person's particular state routinely file.

Form 8621 can also be paper-filed, manually, by mailing it alone to the "Internal Revenue Service Center,  Ogden, UT 84201-0201."  If you chose this option, you could file your return as originally planned.  

I am including a link to the IRS Instructions for Form 8621 for more details:  Form 8621 Instructions  Form 8621 PDF

[cmhenry1]

I'm afraid that I can't do it just as you recommend, because I MUST report a capital gain on Schedule D from Form 8621.  I can't just insert the form in the back of the return (something I have done in years when there was no capital gain).  (I have been filing Form 8621 for many years, in paper-filed returns.  I am aware of the importance of doing that.  Please re-read my earlier messages.)

Thank you,

cmhenry1

[sombra55]

How do I know what prompted Form 8621? I have no idea why it is being required. The T.T. software says something about Information of a passive shareholder of a passive foreign investment company or qualified electing fund. None of which I have. Where in the 1040 form is this issue addressed where it would flag those issues to require me to file a form 8621 Net capital gain?