Form 8938 Duplicate entry

[sv_siri]

Hi,

I am using TurboTax Premium Desktop 2021 and notice that entering online vs desktop entering details are different. Definitely I am doing something wrong and got into this situation. Please point me to the right direction.

* Tax Year 2021, currently working on it. (not submitted yet)

* TurboTax Premium Desktop 2021 

* Windows

* Form 8938 reporting all foreign accounts

* I have 21 accounts and summing over 150K.

Please check the attached image.

A) Part I:

          Line 5, it is showing number of entries more than my list.

          One more entry and not sure how this getting in.

          I checked more than 5 times but still getting one more, before posting this post.

B) Part I:

          Line 6, it is showing amount which is more than my calculated amounts.

         Same as above but the amount of the duplicate amount is added. 

Overall

          Number of accounts has to be 21, but TT showing as 22.

          Total Amount is also wrong due to this duplicate entry

          one more sheet of same account details are added.

C) Part II: 

          Line 11: it is showing amounts even though I did not enter any details in each form in section VI.

          All my banks and its amounts are reported in Part I, so these should not be shown here. 

          How do I delete this?

I am sure doing something wrong.  Please tell me how to correct these forms! or how to do these entries?

Surprisingly, TT is not catching the duplicate entries. I did not experience the same online version for 2019 though.

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D) Also, I filed 2020 tax return last month the same way (late filing in Oct 2022).

          I am aware this form 8938 is information return and not tax forms.

          Want to be safe side and DONT want to get into trouble or issues.

          IRS did not process my return yet.  It is still not processed. How to amend return only for this form 8938?

For 2020, Should I contact IRS and California to adjust the Part | entries and also remove the Part || entries (i.e., remove part II).

   Part I total and number of entries correction and remove corresponding one duplicate entry sheet.

   Part II Line 3 correction. (it should be zero)

(Recap 2020 return is filed and 2021 I am still working on it)

Hope this will NOT cause any issues. Please advice. 

Regards

SSV

[tagteam]

Contact Support.

What is the TurboTax phone number? (intuit.com)

[sv_siri]

Thank you

For 2021: I got it resolved: A, B and C, by deleting all entries and re-entering. It is a lot of work to reenter from scratch. But in the end resolved. Sent postal mail. 

For 2020: the answers I got are NOT clear.

        But they gave these suggestions:

           - Call IRS and inform them after it gets processed. If needed, File 1040x after IRS processed. Not sure whether I should do both?

           - CA FTB ... they say that this form is IRS. They dont know what to do as this is more of information return.

Hope 2020 entries wont cause any issues for 2021 tax returns filing.

Regards

[sv_siri]

how to resolve Form 8938 entries for the 2020 tax return that is already submitted ?

Note: 2020 tax return is still in process state as I submitted last month.