2959415
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have a mutual fund that invested in a security for international stock....

When filing taxes online, I am receiving this message:

 

"At any time during 2022, did you have an interest in (or a signature or other authority over) a financial account in a foreign country, such as a bank account, securities account, or other financial account?"

 

I own a mutual fund I opened in the UNITED STATES that has a security in international stock and earned foreign income and had foreign income taxes withheld. What do I mark the answer as? When I sign in my mutual fund account, I can go to that foreign security when I go to positions on the site and the interntational stock is ironically under mutual funds.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
BillM223
Expert Alumni

I have a mutual fund that invested in a security for international stock....

The IRS says

A financial account is located in a foreign country if the account is physically located outside of the United States. For example, an account maintained with a branch of a United States bank that is physically located outside of the United States is a foreign financial account. An account maintained with a branch of a foreign bank that is physically located in the United States isn't a foreign financial account.

That is, your US-owned and operated mutual fund does not become a foreign financial account because the fund contains foreign stocks.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
robtm
Level 10

I have a mutual fund that invested in a security for international stock....

You do not have a bank account, securities account, or other financial account in a foreign country. You have a stock in your mutual fund account. The answer is NO.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question