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Level 2
March 19, 2023
Question

PFICs

  • March 19, 2023
  • 1 reply
  • 0 views

Please expand TurboTax to include the PFIC IRS form 8621.  I cannot file that form with a paper return as some suggest because my state requires electronic filing in order to obtain tax credits.  This conflict forces me to use a paid preparer instead of TurboTax.  If you own stock in any foreign company that owns other securities, such as a foreign ETF or mutual fund, you probably have a PFIC.  For example, the Sprott Physical Gold Trust based in Canada is a PFIC.

    1 reply

    Kat11_2
    Alumni - Champ
    Alumni - Champ
    March 21, 2023

    I can share your post with TurboTax Moderators, who can share your ideas with TurboTax Developers.  Thank you for your suggestion!

    *** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
    whelchejAuthor
    Level 2
    March 21, 2023

    Thank you!