form 8938 and form 3520

[babybee]

I filed my taxes and reported I had no foreign financial assets but form 8938 was generated and taxes were electronically filed and accepted.  The form generated had Part I checked "NO" and part III checked "NO" and part IV #15 answered 1. I did not realize this form was sent electronically. About 2 weeks later I realized i was suppose to send form 3520 for a property i inherited in 12/2024 and filled out form and mailed it before april 15th of 2025. I did not need to have form 8938 submitted because it is a personal property no to generate income. I don't know why form 9838 was generated as I did not realize i had even inherited this property yet as i was informed of it after i filed my taxes but before april 15th. Will it be ok that form 8938 was filed and disclosed that form 3520 is filed? I ask because the property is no an excepted specified foreign financial asset but a personal property i will keep for awhile and then sell. It would be more of a capital gains or loss reporting for the future. Do I need to amend the taxes to remove form 8938 or will it just be used as an informational reporting for my form 3520 as I inherited a small apartment which will not generate income as a rental property. Also, I noticed that form 8938 appeared on turbotax forms after my 3520form was received by IRS. On part III of my schedule B form I answered no to 7a and 8 so I do not understand how form 8938 was generated for my taxes .  Anyway, is there a problem now or, since i filled out form 3520 as i mentioned above even though the house is not a specified foreign financial assest according to what the instructions for this form consider one to be, must I amend my taxes because this form should not have been generated as only form 3520 needed to be mailed. Thank you for your help.

[SusanY1]

You don't need to amend.  It sounds like the only thing 8938 did was report that you would be filing a Form 3520, which you've done.  Form 8938 is informational in nature anyway and doesn't compute any tax, so even if it's blank and attached to the return there won't be any negative consequences. 

[babybee]

Thank you for replying. I appreciate your help. I am still puzzled as to why form 8938 was generated. After I electronically sent my taxes and they were accepted by the IRS, I did play with them 1 week or so later trying to see what forms I had to file; however, I never saved the changes.  Had I accidentally pressed save, this action still should not have changed my tax return papers, so this is why I can't understand how form 8938 was formed and sent. Any ideas as to how this could have occurred? As I stated in original post, I had not even realized I owned the property yet. Thank you again for putting my mind at ease.

Most sincerely,

Babybee

[DaveF1006]

 There may have been a couple of reasons why 8938 was reported in the return.. 

• You have accidently indicated you had foreign assets to report when the interview question initially appeared.
• You may had 1099 INT or 1099 DIV forms where the FATCA box was checked.