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Level 2
Apr 17, 2020 9:54 PM UTC
Question

Form 8621

How do I know if I need to file form 8621? My 2018 taxes were done by CPA and he has filed this form (mark to market). However for 2019 taxes, TurboTax is not asking for Passive Foreign Investment. If this form is required, let me know how to get there using TurboTax Premier.

 

Thanks.

    7 replies

    Level 10
    Apr 17, 2020 10:37 PM UTC

    TT does not support form 8621 for a PFIC. You will need to go to the IRS website and download form 8621 and the instructions. Also go to the Company's website and download the data you will need to fill out form 8621.

    GujjuAuthor
    Level 2
    Apr 18, 2020 1:51 AM UTC

    Thank you. Based on what I read on this forum...looks like I need to mail my return.

     

     

    Level 2
    Apr 4, 2021 7:17 AM UTC

    Hey Gujju,

     

    How did you handle form 8621 along with TT? Did you paper file and attached form 8621?
    Were there any gains from 8621 that you needed to add to 1040?

     

    I am in the similar situation. In 2019 CPA did MTM. I want to know how to handle that in TT for 2020?

     

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    Shrinivas