How to electronically file including a PFIC 8621 form?

[JSRR1950]

I'm a long time DIY TT user.  I can do everything and file electronically EXCEPT that I will have a PFIC (passive foreign investment corp) Reg 1-1295-1(G)(1) form going forward.  That means preparing an IRS f8621 which is NOT included in TT.  I handled it for TY2020 by preparing the f8621 manually, and doing an amended return in TT since this changed both Sch D (LT cap gain) and Sch A (AGI which changed a deduction limit).  I printed it all out and mailed it in (Fed, State/OR).

I am glad to do this again in TY2021 and beyond, but I want it to be all filed electronically without an amendment; I can extend and wait for the 1295 form from the PFIC.  At that point, I'll have a complete TT tax file, and a PDF of the completed 8621 form.  But I can't file that myself electronically via TT.

How can TT's 'expert assistance' program help?  Can I upload all of that and have a TT 'expert' file it for me?

PS - I'm a Mac user.

Thanks!   Joel

[Mike9241]

8621 is not handled by TT.

prepare your return in TurboTax. Fill out Form 8621 manually, and then insert the completed Form 8621 into their tax return documents (using Attachment Sequence Number 69). Finally, they would then paper-file their complete tax return, including Form 8621. This tax return filing would be sent to the normal, regular, IRS office where taxpayers in that person's particular state routinely file.

[Critter-3]

None of the TT DIY programs can handle this form at all  so your only choice to efile it with that form is to employ a paid professional preparer who can attach a form to an efiled return.  

[JSRR1950]

Thanks.  I'll try the attachment sequence 69 idea proposed by the earlier respondent (Mike)

[JSRR1950]

Thank you Mike for the informative response .  I'll take a deeper look at TT, but I don't see any menu items that offer 'insertion' of a form, even when I view Forms.  There's also no HELP about the idea of "inserting a form".  Is there somewhere I can "see/view" the forms that will become the 'tax return document'?  Thanks again.

[VolvoGirl]

I think he means you prepare the form manually and physically insert the printout into the printout of your return to MAIL your whole return (not efile).  You don't insert it into the Turbo Tax program.  You just add it to your paper mailed return.

[Critter-3 · Accepted solution]

The TT program doesn't handle that form in any way, shape or form so it must be mailed with your paper return or  you can seek out a local paid tax pro who can complete and include/attach that form a an efiled return.    If you paper file then the correct place to attach the form is in the proper sequence using the attachment sequence number : 

[JSRR1950]

Thanks!

But Darn!  That's what I was hoping he didn't mean.  That will mean the entire return is seen as a mail-in by the IRS and state.  

Does anyone know of a preparer that can electronically add the manually prepared 8621 into my otherwise fully electronic TT return (perhaps by importing the TT return into another program?) and then electronically submitting the entire package to the IRS?

Thank you!  Joel

[Critter-3]

Call local professionals in your area ... I would recommend an Enrolled Agent ... the IRS has a list here: 

https://www.irs.gov/tax-professionals/choosing-a-tax-professional

[JSRR1950]

Thank you everyone!  I'm off to find a local pro who can take my TT file and the manual f8621 and combine them into an electronic submission to the IRS (and State).  Many thanks for all the help!  Joel

[treasure hunt]

When does TurboTax support Form 8621 to file electrically?

[Critter-3]

Never ... the TT program files income tax returns not informational returns.  

[treasure hunt]

Form 8621 is a part of income tax return, i.e. it affects income tax...

[Bowie1997]

I have the same issue with Form 8621. TT should incorporate this form into at least one of their versions. I don't think this is such an uncommon form any more. I am required to file it because I invested in Vanguard's private equity offering and chose to invest through their offshore feeder fund in order to avoid filing in multiple states. That can't be a unique situation.  In my experience, TT has always been behind the curve in the foreign-related filing situations. Even today, their form 1116 doesn't automatically pick up information from the rest of the return and enter it automatically on the form. Not sure why this would be so hard to incorporate. 

[JSRR1950]

So totally agree — it’s not a hard form — at least put it on the screen and let us fill it in … same as TT does with a K1 where they get practically none of the deeper boxes (the ones that require an alphabetic “letter” detailing the source of the amount. 

Maybe I said this before, but my approach will be to “work around” TT by doing an electronic filing of all forms withOUT the 8621 info.  Once accepted, I then have to do an amended return — which means printing out the required forms, doing the 8621 “by hand” and then using certified mail (or better, FedEx/UPS letter) to send it all in.  Big waste of time — are you listening Turbo Tax!