I do not have a foreign account, all of my 1099-INT forms are from USA founded banks. Why am I being asked about foreign accounts/treated like I have a foreign account?

Forum|Forum|1 year ago
February 4, 2025
1 reply
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I have two HYSA (with CitiBank and PNC Bank). I do not have any additional income to this nor any additional bank accounts.

DaveF1006

It depends if you have entries in Box 6 and/or Box 7 in those forms. You may have paid foreign taxes if the banks invested in foreign funds as part of your portfolio. If not, here is something you can do to remove the error.

"Tax online,

Sign into your account, select Pick up where you left off
Select Tax Tools, click on the drop down arrow
Select Tools
choose Delete a form
Select Delete next to the form 8938 and other worksheets about foreign account and Continue with My Return"

If you use Turbo Tax software, go to your forms mode. Locate form 8938 and delete the forms along with the worksheets that may be associated with it"

This is a helpful hint from LinaJ2020 written in her Turbo Tax post.

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m-guinto-22Author

Thank you for this advice, I went into the system but did not see form 8938 listed as one of my documents. I did have some small business forms that do not apply to me (I do not own a small business) so I attempted to delete those. I am still getting questions about my foreign accounts and cannot seem to skip/eliminate that section of the process.

I also checked my 1099-INT forms and neither have anything listed in Box 6 or Box 7. Is this a technical issue with the program? Is it better to wipe my profile and start over? I will switch to doing this manually thru the government website otherwise