Accidently clicked yes to "Do you have any foreign financial assets?". Went back to correct when reviewing but it will not update in the final return. How do i fix this?
Accidently clicked yes to "Do you have any foreign financial assets?". Went back to correct when reviewing but it will not update in the final return. How do i fix this?
First check to see if you have a 1099 INT or 1099 DIV. If there is a foreign tax paid amount reported in Box 6 of a 1099 INT or Box 7 in your 1099 DIV, then you may have a foreign account that you are not aware of. There are follow-up questions in those forms that you need to complete. If this isn't the issue, then perform the following steps to remove this error message so you can file your return.
To remove this from your return:
Federal or Federal Taxes if working in the desktop version
Income or Wages and Salaries if working in the Desktop Version
Other Tax Situations
Prepare a Report on Foreign Assets
Answer None of the above to Tell Us About Any Foreign Bank Accounts.
Click Continue.
Answer None of the above to Tell Us About Any Foreign Trusts.
Click Continue.
Answer No, I don’t have foreign financial assets to Foreign Financial Assets.
Click Continue
If this doesn't remove the entry, try this:
In Turbo Tax Online:
Tax tools
Tools
Delete a Form
Look for Form 8938 and delete it and all of the worksheets associated with it
In Turbo Tax Software
Go to the forms mode in your program
Look for form 8938 and all worksheets associated with.
Delete the form and the worksheets
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