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Schedule B (form 1040), Line 7a is coming up under review ("line 7a should be blank"). I click yes (+continue), but it is not resolving the issue

I went through the federal->wages & income->less common investments & savings, 1099-OID & foriegn accounts but it doesnt give me the options to modify the answers for 7a
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1 Reply
MonikaK1
Expert Alumni

Schedule B (form 1040), Line 7a is coming up under review ("line 7a should be blank"). I click yes (+continue), but it is not resolving the issue

Here are a couple of ways to get back to the foreign accounts questions:

 

  1. Select Federal on the left side menu.
  2. Select  Wages & Income.
  3. Scroll all the way to the bottom and click Continue.
  4. Continue until you get to Tell Us About Any Foreign Bank Accounts. 
  5. You can change your answers here.

 

Another way:

 

  1. In TurboTax, Go to Other Tax Situations
  2. Select Other Tax Forms
  3. Select Start or Review next to "Prepare a report on foreign financial assets"
  4. You will see the question, "Do you have any foreign financial assets?" If you don't, click the radio button next to "No, I don't have foreign financial assets". 

These steps should resolve the issue.

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