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IRS Form 8938: e-file options

IRS Form 8938: e-file options

Old Apr 5th 2018, 7:24 pm
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Default 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:
  • 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
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Old Apr 5th 2018, 11:46 pm
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Default Re: IRS Form 8938: e-file options

Originally Posted by tbm View Post
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:
  • 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
If you don't want to pony up for the paying version of these, I guess you could file electronically without form 8938 and then immediately file a 1040x by mail with the 8938 (got to do it by April 15th...). But if you are over the limit for 8938 filing, and are filing an 8958 to file married filing separate in a community property state, it might behoove you to use the paying version of something anyway.
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Old Apr 14th 2018, 3:00 pm
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Default 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?
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Old Apr 16th 2018, 2:16 pm
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Default Re: IRS Form 8938: e-file options

Originally Posted by Jaag View Post
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?
If you are using the de luxe version it does support extra pages. I ran into the same problem but after doing on-line chat with them overcame it. I can't remember the details but I believe there was a + sign to click. It was not a continuation sheet but the whole form but you just complete further sheets as necessary. It e-filed with no problems.
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Old Mar 7th 2019, 7:46 pm
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Default 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."
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Old Mar 7th 2019, 8:02 pm
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Default Re: IRS Form 8938: e-file options

Originally Posted by vespucci View Post
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."
Yes that's one example of the forms being somewhat similar, but not the same unfortunately.
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