Fincen form 114

[wwjd]

How do I report spouse's foreign bank information?

I need to file the bank accounts seprately (with MFJ filing stauts). The taxpayer owns some accounts and the spouse owns others seprately. But I only see one form 114 under the taxpayer's name only.  How can I add form 114 separately for the spouse?

I cliked yes on the question on form 114a, "are you filing form 114 jointly  with a spose?"

[Accountant-Man · Accepted solution]

You have to split the returns just to use Spouse's FIN114.

When you split them, UN-check the TP's box since you don't need the TP's separate return.

[wwjd]

Thank you so much for your reply.

I'm able to split by using tools/option in federal/state but not in Fincen. 

I still cannot split. I also right cliked the mouse but the split options on the menu are dull. The taxpayer and the spouse owns more then 10 foreign bank accounts each and I need to report them seprately. I'm getting frustrated. >.<

[Just-Lisa-Now-]

Split the MFJ return, the on each spouses MFS return activate the 114.

[Accountant-Man]

Make sure all accounts are coded T or S, then go to File menu, and

PRESS THE SPLIT RETURNS. PRESS IT. 

That will SPLIT all items on the tax returns. All of them.

Open the Spouse's 1040 and prepare the Spouse's FIN114.

You'll have a 1040, but IGNORE IT. This file is only for the Spouse's FIN114.

Do not use Tools Options.

[wwjd]

Thank you so much!! You guys are great.^^

I just hope that the proseries makes it easier. Instead of split the whole return, just add the form for the spouse, like form w-2 input.

Thanks again.

[Accountant-Man]

Dream on.