Form 8938

[beamituofo]

When filing the part V of the form 8938, on line 22 none of the selection is applied to my current year. Therefore, I did not mark any of them. However, the TurboTax keeps saying that it's not done.

[pk · Accepted solution]

@beamituofo , are you saying that your reportable  Specified Foreign Asset is a  bank account that you own ---

line 1, 2, 3 are all filled out,  line 5 as 1, line 6 US$xxxxxx, line  lines 7, 8, 9 are blank.   Only other possible entry now is  Part V, line  20 --(a) checked , 21 -- XXXXXXXXXX, 

And now because you cannot check anything in line 22 --- Turbo is complaining ?    You have filled out lines 23, 24, 25 through  28 -- yes ?     And still Turbo complains ?

Please tell me more --- so I can simulate your case and see why Turbo is unhappy ---please 

Is there more I can do for you ?

[beamituofo]

Yes. I have filled out lines 23, 24, 25 through  28. And, now I did not check anything in line 22 because none of them are applied to the 2025 tax year for the first foreign bank account listed. Then, Turbotax complains.

When I checked the box "a" in line 22, "Account open during tax year," for the 2nd foreign bank account listed, TurboTax does not complain.

In other words, TurboTax requires me to fill in line 22 in order to  pass the review.

Note your program does not have this problem in previous years. Thanks.

[beamituofo]

Dear TurboTax,

Here I posted the same question of March 23, 2026. When TurboxTax will fix the bug of line 22 on form 8938?

Thanks.

[RobertB4444 · Accepted solution]

The only reason to report the account is if is is open during the tax year.  This does not mean that it was created during the tax year, just that it was operational during that time.  Please check box A and continue on with the form.

[beamituofo]

Thank you very much.

[pk]

@beamituofo , based on your answers I went back and relooked at the form and the IRS instructions for the same. My impression as to why TurboTax is complaining is that it needs at least one  box checked.  So in your particular case , your account  was neither opened or closed  during the current year and not jointly owned ----- so no checks in boxes (a), (b), or (c).  However Box (d) needs to be checked  because you reported no taxable  earnings in section III for this account.

Does this make sense ?   Is there more I can do for you ?

pk

[beamituofo]

Thank you for your reply. I apologize for not describing the problem clearly before.

To reiterate, my situation is that boxes (a), (b), (c), and (d) on line 22 do not apply to the bank account I entered. As you mentioned, my account was neither opened nor closed (a, b) during the current year and not jointly owned (c). However, I also cannot check the box (d) because this bank account generated interest income, which was already included and reported in part III, line 13a.

Previously, TurboTax allowed me to uncheck all items (a), (b), (c), and (d) on line 22 without any problems. I successfully passed the software review and completed my 2024 e-filing, but not in 2025 TurboTax.

I hope I have described the problem clearly this time.

If TurboTax still requires me to check at least one box, and since the information provided in line 22 of Form 8938 does not directly affect the calculation of taxable income, I will have no choice but to check the box (a) as the other member has suggested. While marking box (a) may be interpreted as the bank account was still valid/open in 2025, I still believe that from the IRS's perspective, they mean the bank account was created during that tax year.