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TurboTax is prompting me to upgrade to a paid plan because it thinks I have a financial account in a foreign country, but I don't. How to fix?

 
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Accepted Solutions
DavidD66
Employee Tax Expert

TurboTax is prompting me to upgrade to a paid plan because it thinks I have a financial account in a foreign country, but I don't. How to fix?

To change an answer to the question "Do you have any foreign financial assets?" in TurboTax Online:

 

  1. Go to Wages & Income Summary 
  2. Scroll down and click the down arrow on "Less Common Investments and Savings" 
  3. Select "1099-OID, Foreign Accounts" and click Start or Revisit
  4. On the "Miscellaneous investment income" screen check the box for "None of the above" and Continue
  5. On the "Foreign Financial Assets" page make sure the button for "No, I don't have foreign financial assets." is marked & indicate you did not live in a foreign country.
  6. Continue and make sure all the questions about foreign financial assets and accounts are either blank or marked no.
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2 Replies
DavidD66
Employee Tax Expert

TurboTax is prompting me to upgrade to a paid plan because it thinks I have a financial account in a foreign country, but I don't. How to fix?

To change an answer to the question "Do you have any foreign financial assets?" in TurboTax Online:

 

  1. Go to Wages & Income Summary 
  2. Scroll down and click the down arrow on "Less Common Investments and Savings" 
  3. Select "1099-OID, Foreign Accounts" and click Start or Revisit
  4. On the "Miscellaneous investment income" screen check the box for "None of the above" and Continue
  5. On the "Foreign Financial Assets" page make sure the button for "No, I don't have foreign financial assets." is marked & indicate you did not live in a foreign country.
  6. Continue and make sure all the questions about foreign financial assets and accounts are either blank or marked no.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

TurboTax is prompting me to upgrade to a paid plan because it thinks I have a financial account in a foreign country, but I don't. How to fix?

Thanks for your reply! I eventually realized that my DIV/INT forms uploaded directly by connecting the financial institution were read incorrectly in the transfer as TurboTax read the "FATCA filing requirement" box as checked. I found where to manually edit this for each form. 

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