TurboTax deluxe upgrade to file an FBAR

[yaehcu2]

Hello,

I was a student for this tax year and I lived abroad in the UK for the entirety of 2024. I have already filed my FBAR as I have a UK-based bank account that totaled just over $10,000 at one point last year when I transferred money from my US account to my UK account to for rent. I wasn't working during 2024 and made no income, so I know that I don't have to file taxes technically, but I have filed them before and don't want to leave a gap in my record.

I am currently trying to submit my tax record with TurboTax, and I have honestly filled out my information that I had a foreign bank account with over $10,000 in it. TurboTax is currently blocking me from filing my taxes with them because the website wants me to upgrade to a deluxe account for $79. Again, I have already filed my FBAR. That form isn't even with the IRS. I never had enough money in my foreign account to warrant filing an 8983. I don't want to pay TurboTax $79 because I already filed my FBAR, but I don't want to unclick any of the foreign bank account information that I have put into TurboTax because I don't know if any of that information is reported to the IRS and I don't want to falsely report not having the foreign account.

So my question is:

1. Is this just a hole in the TurboTax system, where you're filling out information so it can tell you what it thinks you need to file, and there's no option to say "I've already filed my FBAR, thanks but no thanks" and that's why it's stopping me? 

2. Basically, do I need to pay the $79 to file my return with TurboTax because somewhere, somehow, some record of my foreign banking information needs to get reported to the IRS, even though I already filed my FBAR and don't need to file an 8983?

3. Is this a schedule B thing? Because I did not earn any interest or dividends from my foreign account. If so, how do I get around TurboTax's wonky system?

Sorry if this is poorly worded. This feels like TurboTax is being stupid and is just trying to get $79 out of someone, even though there's nothing extra to be filed. So confusing and annoying...

[DaveF1006]

Remove the entry where you mention you have an account over $10,000 if you have already filed your FBAR. Don't allow TurboTax to strongarm you into making this purchase.

[yaehcu2]

@DaveF1006 

Hello,

Thank you very much for your reply. I have switched the answers in TurboTax to no, but when reviewing my answers it prompts me to check my Schedule B (1040) Interest and Ordinary Dividends form, specifically 7a of Part III: Foreign Accounts and Trusts.

The form says: "You must complete this part if you (a) had over $1,500 of taxable interest or ordinary

dividends; (b) had a foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust"

7a states:  "At any time during 2024, did you have a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreign country? If "Yes," are you required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114 and its instructions for filing requirements and exceptions to those requirements"

7b states: "If you are required to file FinCEN Form 114, list the name(s) of the foreign country(-ies) where the financial account(s) are located:" 

7a is currently marked yes (probably from me previously filling out that I have a foreign bank account). The only thing I am allowed to change is 7a from yes to no. 

I would appreciate any advice you have as option b of the form (having a foreign bank account) is applicable to me. Thank you very much for your time.

[DaveF1006]

Since you have already reported your FBAR, select no for that answer.