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client filed form 114

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client already filed their own form 114 - do i answer yes or no on sched b part 7a

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Just-Lisa-Now-Answer

Intuit Community Champion

I mark 7a yes and 7b yes and input the country code, but I dont activate the 114 within ProSeries.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

sjrcpa

Level 15

Yes

The more I know the more I don’t know.

Just-Lisa-Now-

Intuit Community Champion

Just answer the questions.

You may have some 8938 requirements as well....did they give you a copy of the 114 they filed?

Ive got a client with oodles of money in Korea, he files his own FBAR and sends me the copy so I can do the 8938

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

I

INGITAuthor

Level 4

Thanks Lisa - I know about the 8938 requirement and already did that one - i get it.

Client gave me two emails (two accounts) from cm.bsaefiling@fincen/gov acknowledging receipt of submission w/BSA Identifier number xxxx ... not an actual copy of the Form 114.

If I click 'yes' on B III 7a Form 114 defaults me as preparing and filing the 114 - which doesn't seem right to me.

Just-Lisa-Now-

Answer

Intuit Community Champion

I mark 7a yes and 7b yes and input the country code, but I dont activate the 114 within ProSeries.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

I

INGITAuthor

Level 4

Follow up question to 'client submits own Form 114'. Do I need to attach copy of clients 114 (or in my case email of acknowledgement from Treasury) to clients return?

I think 'not' - but want to be sure. Doing my Due Diligence. thanks

Just-Lisa-Now-

Intuit Community Champion

No attachment needed.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

sjrcpa

Level 15

Even if you did prepare the FinCen 114 it doesn't go with the 1040. It's a separate filing.

The more I know the more I don’t know.

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