I have multiple copies of the Form 8938 that cover many of my "other foreign assets". These "other foreign assets" are Canadian RRSPs. On many of my 8938 copy/continuation letters I only have a section for 'other foreign assets' and I don't have a section for 'foreign deposit account' on these pages.
When I save the address of the issuer it seems that the online software forgets the province and postal code for every copy that doesn't have the top section of 'foreign deposit' filled in.
Then when I get to the end of my return it says that I need to review issues.
The issues can never be fixed since it will never save.
To get around this, I created a blank top section 'foreign bank' info by using a dash for the information along with 0 for the numbers.
This will allow the 'other foreign assets' postal code and province to stay saved.
Problem now is that when it reviews it now says that my top section cannot have dashes for values.
How can I have this fixed so that it saves it in Turbo Tax online?
All I want is that for pages that have ONLY the 'other foreign assets' section filled in, I need the postal code and province to stay saved.
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You don't need Form 8938 to report a withdrawal from your Canadian RRSP. Any dividends you earned are also not taxable as long as they aren't withdrawn.
Click this link for instructions on How to Delete a Form in TurboTax Online to remove these forms from your return.
To report a Distribution from a Canadian RRSP, in the Wages & Income section, scroll down to Retirement Plans and Social Security.
If tax was withheld on your distribution, you can claim a Foreign Tax Credit. Click this link for more info on Entering your Canadian RRSP Income and Claiming a Foreign Tax Credit.
I’m not reporting Form 8938 due to a Canadian RRSP withdrawal. I’m required to report it due to my aggregate amount of foreign account balances being above the reporting threshold. Once above that threshold then RRSPs need to be reported on Form 8938. The problem is that there is a bug where if I only enter info for the ‘other foreign asset’ section of a continuation/copy page of form 8938 it won’t save the postal code and province. It’s a bug that I need addressed and I’m not sure how to get it looked at.
I am having the same issue w Form 8938. I too am above the threshold and need to report not only multiple Foreign Deposit Accounts but also other Foreign Financial Assets (CDN RRSPs) .When I try review the City and Postal code of the Other Foreign Financial Asset -it overwrites and uses the previous Foreign Financial Deposit. Even if I go back in and try to change and save it still does not work. This is only for the Continuation Pages ie. Copy 1 Copy 2 etc. I had this problem last year as well and it seems that this issue has not been corrected.
What did you end up doing last year? I got a response on another thread that said the problem couldn't be reproduced but clearly it exists. I'm debating just putting the City, Province and Postal Code all in the City text cell.
I ended up doing the Form 8938 via the IRS website (no issues ) and printing them from there. I then had to mail my return w Form 8938 that I did via IRS website. I do my return with the TT Desktop Version-so looks like we are having the same issue if you are doing the multiple forms via the Online version.
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