It's February 2022 and I'm trying to complete a Federal return that has multiple foreign entities being declared (stocks in foreign companies). However, in the review process, I keep getting the "Check Tis Entry" message and it won't let me complete the return.
It's showing the same message for each of the stockholdings I'm declaring : "Form 8938 -- 8938 Cont Stmt (COPY 7): Foreign entity or issuer/counterparty information should not both be entered. Line 7 and line 8 cannot be entered for the same foreign asset." But then the highlighted text is 35 a "Name of Foreign Entity".
I'm stuck. Other than deleting all the foreign stocks I entered, I'm not sure how to resolve this. It was not an issue last year. Is this a bug with the current 8938 form on TurboTax for 2021???
It would be helpful to have a TurboTax ".tax2021" file that is experiencing this issue.
You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions:
Go to the black panel on the left side of your program and select Tax Tools.
We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.