IRS Form 8938: e-file options
#1
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IRS Form 8938: e-file options
There was a thread in 2014 "IRS Form 8938: Help! Is it possible to e-file??". Since it's closed, I'm opening a new one.
Form 8938 (Statement of Foreign Financial Assets) will be required by many people here. I checked the IRS Free File web site today and checked various tools:
Form 8938 (Statement of Foreign Financial Assets) will be required by many people here. I checked the IRS Free File web site today and checked various tools:
- TaxAct Free File: supports form 8938 (but only if you go via the IRS Free File web site. If you go to TaxAct directly and choose the free version, it doesn't work.)
- FreeTaxUSA: supports form 8938 (but can't do form 8958 which is required for community property states)
- H&R Block: Free File doesn't support form 8938. You have to upgrade
- TaxSlayer: doesn't support form 8938 at all
- FileYourTaxes.com: doesn't support form 8938 at all
#2
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Re: IRS Form 8938: e-file options
There was a thread in 2014 "IRS Form 8938: Help! Is it possible to e-file??". Since it's closed, I'm opening a new one.
Form 8938 (Statement of Foreign Financial Assets) will be required by many people here. I checked the IRS Free File web site today and checked various tools:
Form 8938 (Statement of Foreign Financial Assets) will be required by many people here. I checked the IRS Free File web site today and checked various tools:
- TaxAct Free File: supports form 8938 (but only if you go via the IRS Free File web site. If you go to TaxAct directly and choose the free version, it doesn't work.)
- FreeTaxUSA: supports form 8938 (but can't do form 8958 which is required for community property states)
- H&R Block: Free File doesn't support form 8938. You have to upgrade
- TaxSlayer: doesn't support form 8938 at all
- FileYourTaxes.com: doesn't support form 8938 at all
#3
Re: IRS Form 8938: e-file options
I would like more info on this if anybody knows of paid software that works. I paid for HRBlock this year as it “supported the form” only to find out it didn’t support extra pages, so for a second year I filed 1040x.
Can anybody confirm if any paid software can handle this form correctly and e-file including continuation sheets?
Can anybody confirm if any paid software can handle this form correctly and e-file including continuation sheets?
#4
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Posts: 2,134
Re: IRS Form 8938: e-file options
I would like more info on this if anybody knows of paid software that works. I paid for HRBlock this year as it “supported the form” only to find out it didn’t support extra pages, so for a second year I filed 1040x.
Can anybody confirm if any paid software can handle this form correctly and e-file including continuation sheets?
Can anybody confirm if any paid software can handle this form correctly and e-file including continuation sheets?
#5
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Joined: Jul 2018
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Posts: 254
Re: IRS Form 8938: e-file options
Is it correct to report different values for a pension on FBAR and form 8938?
On FBAR I entered the maximum value during the year. But in the instructions for form 8938 (p. 8), it says the value on the last day of the year:
"If you have an interest in a foreign estate, foreign pension plan, or foreign deferred compensation plan, the maximum value of your interest is the fair market value of your beneficial interest in the assets of the estate, pension plan, or deferred compensation plan as of the last day of the tax year."
On FBAR I entered the maximum value during the year. But in the instructions for form 8938 (p. 8), it says the value on the last day of the year:
"If you have an interest in a foreign estate, foreign pension plan, or foreign deferred compensation plan, the maximum value of your interest is the fair market value of your beneficial interest in the assets of the estate, pension plan, or deferred compensation plan as of the last day of the tax year."
#6
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Joined: Aug 2013
Location: Athens GA
Posts: 2,134
Re: IRS Form 8938: e-file options
Is it correct to report different values for a pension on FBAR and form 8938?
On FBAR I entered the maximum value during the year. But in the instructions for form 8938 (p. 8), it says the value on the last day of the year:
"If you have an interest in a foreign estate, foreign pension plan, or foreign deferred compensation plan, the maximum value of your interest is the fair market value of your beneficial interest in the assets of the estate, pension plan, or deferred compensation plan as of the last day of the tax year."
On FBAR I entered the maximum value during the year. But in the instructions for form 8938 (p. 8), it says the value on the last day of the year:
"If you have an interest in a foreign estate, foreign pension plan, or foreign deferred compensation plan, the maximum value of your interest is the fair market value of your beneficial interest in the assets of the estate, pension plan, or deferred compensation plan as of the last day of the tax year."