f8938 and f3520

Forum|Forum|6 years ago
November 17, 2019
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Can I fill both f8938 and f3520 ?

Employee

If you are required to file a Form 8938, Statement of Specified Foreign Financial Assets, that form is supported by TurboTax and you will asked specific questions concerning foreign financial assets during the Wages and Income section of the program.

Go to this IRS website for a Comparison of Form 8938 and FBAR Requirements - https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements

Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts is not supported by TurboTax.

A

Anonymous

Hello,

If filing f8938, in part IV, does it only need to indicate f3520 without more details in f8938 part V and part VI? Or, shall indicate AND still provide details in part V and VI?

Thank you !