I wanted to understand if Turbo Tax help in filing FBAR and FACTA.

[DoninGA]

IRS website for FACTA information - https://www.irs.gov/businesses/corporations/summary-of-fatca-reporting-for-us-taxpayers

IRS website for a comparison of Form 8938 and FBAR requirements - https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements

TurboTax supports entry of a Form 8938 when you indicate you have foreign assets.

See this TurboTax support FAQ for a Form 8938 - https://ttlc.intuit.com/community/accessing/help/how-do-i-file-form-8938-statement-of-specified-fore...

An FBAR report (FinCEN 114) is not entered on a tax return.  It is handled through the BSA E-filing System Website.

See this TurboTax support FAQ for FBAR - https://ttlc.intuit.com/community/forms/help/can-turbotax-handle-an-fbar-report-fincen-114/00/25942

[praveensahoo]

I got my green card in 2018 (though I was staying in US since 2013). I came to know about FBAR and FACTA in 2019. I haven't filed anything for 2018. Is there a safe way to declare FBAR and FACTA without attracting penalty for late filing. 

[LinaJ2020]

If you meet the requirements, you would just need to amend your 2018 tax return to add the Form 8938 and report a delinquent or past-due FinCEN Form 114. 

For instructions and information, see the followings:

Amend to add Form 8938-I am using a post from our user DS30 for your reference

Penalties FinCEN114 - Read under Penalties

@praveensahoo

[LinaJ2020]

Please see my answer above.

@praveensahoo