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February 15, 2025
Question

It's stating the reason i have to pay is because I have foreign account but I don't have any. It's not selected in my file. What can I do?

  • February 15, 2025
  • 1 reply
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    1 reply

    DaveF1006
    February 15, 2025

    It depends. Do you have a 1099 INT with Box 6 checked or 1099 DIV with Box 7.  If so, then you have a foreign tax credit you may claim.

     

    If this is the case and if the credit is small, you may wish to remove the entries in Box 6 or 7 in order to stay in the free version of Turbo Tax.

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    danaiytgAuthor
    February 18, 2025

    Hi!

    As you can see below, I dont have any 1099-INT with box 6 checked and it's $0.00. 

    DaveF1006
    February 18, 2025

    Remove the "0" in Box 6.  if that doesn't work, delete the 1099 INT from the summary screen if there is no information in it. If these suggestions don't work, then do the following.

     

    1. Federal or Federal Taxes if working in the desktop version
    2. Income or Wages and Salaries if working in the Desktop Version
    3. Other Tax Situations
    4. Prepare a Report on Foreign Assets
    5. Answer None of the above to Tell Us About Any Foreign Bank Accounts.
    6. Click Continue.
    7. Answer None of the above to Tell Us About Any Foreign Trusts.
    8. Click Continue.
    9. Answer No, I don’t have foreign financial assets to Foreign Financial Assets.
    10. 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

     

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