roger2
Level 1
12-16-2019
12:33 PM
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Can I generate and file Form 3520 using Intuit ProConnect? I need to complete this for an individual that received a gift of cash, >$100k US, from their parent who is not a US person/resident. This gift is held in a foreign bank account, and that account will be disclosed on the FBAR.
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itonewbie
Level 15
12-16-2019
12:33 PM
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No, F.3520 is not supported by PTO.
If your client lives in the US, F.8938 would also be required.
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Still an AllStar
Still an AllStar
roger2
Level 1
12-16-2019
12:33 PM
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Thank you for your help.
itonewbie
Level 15
12-16-2019
12:33 PM
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Glad to be of help.
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Still an AllStar
Still an AllStar

Anonymous
Not applicable
01-26-2020
06:34 PM
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Then how do we report this on PTO?
itonewbie
Level 15
01-26-2020
06:59 PM
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You can't. You will need to prepare that outside of PTO.
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Still an AllStar
Still an AllStar
Level 15
01-26-2020
07:00 PM
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I had to do one of these multiple years ago, I believe the 3520 is mailed in separate from the tax return, so you can get the form from anywhere and fill it out.
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