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How do I file Form 8938, Statement of Specified Foreign Financial Assets?

by TurboTax195 Updated a day ago

Filing Form 8938 is only available to those using TurboTax Deluxe or higher. To get to the 8938 section in TurboTax, follow these steps:

  1. Open or continue your return.
  2. Navigate to the 8938 section:
    • TurboTax Online/Mobile: Go to 8938.
    • TurboTax Desktop: Search for 8938 and select the Jump to link.
  3. On the Foreign Financial Assets screen, select Yes, I have foreign financial assets.
  4. Carefully follow the onscreen instructions. If you need Form 8938, we'll fill it out for you.

Note: Foreign real estate isn't considered a foreign financial asset, nor are foreign investments (if owned through a US brokerage or listed on a US exchange) or money in a foreign branch of a US bank. Form 8938 isn't required in these situations.

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