Skip to main content
April 13, 2025
Question

I do not have any foreign accounts. Turbo Tax asks me if the amount of my foreign accounts is more or less than $10,000. How do I indicate I have NO foreign accounts?

  • April 13, 2025
  • 1 reply
  • 0 views
No text available

1 reply

DaveF1006
April 14, 2025

It depends. Here are a few possible reasons and solutions:

 

  1. Incorrect Selection: TurboTax asks about foreign accounts during the deductions section. Double-check that you didn’t accidentally select "Yes" to having a foreign account. Go to other tax situations>miscellaneous tax forms>prepare a report of foreign assets. Be sure you select no and then sign out of your return and sign back in again. See if this clears the error.
  2. Imported Forms Issue: If you imported a 1099-INT or 1099-DIV, TurboTax may have incorrectly marked the FATCA filing requirement box. Try revisiting your entries and ensuring that box is unchecked. 
  3. Form 8938 Error: TurboTax may have automatically generated Form 8938 (Statement of Specified Foreign Financial Assets). You can delete this form under Tax Tools > Tools > Delete a Form.  After deleting the form, sign out and back in again.  See if this clears the error.
**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"