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Level 5
January 1, 2021
Question

FBAR / FinCen 114

  • January 1, 2021
  • 5 replies
  • 15 views

Hi, how do I create Form 114 in ProSeries Professional?  This exact question is in the FAQs but there is no answer, at least not that I can find.

The husband and wife own some accounts together, some separate so I need two FBARs.

- Thanks!

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5 replies

Level 8
January 1, 2021

Click on File at the left side of the bar across the screen.  Then click on the line that says "Go to Foreign Bank Reporting 114".

Level 5
January 1, 2021

Oh I see, it is grayed out.  Maybe it does not show up until the form is available?

Level 8
January 1, 2021

It is grayed out on mine also and suspect you are correct.

Taxes-by-Rocky
Level 7
January 3, 2021

If the 2020 PS tax package is the same as the 2019 package, you will likely need two separate data files (one Form 114 in the joint return, and another Form 114 in a separate tax file in just the spouse's name - all depending on your circumstances, of course).

Level 5
January 3, 2021

I kind of thought that might happen, thank you.