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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 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♥¸¸.•*¨*•♫♪
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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.
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I mark 7a yes and 7b yes and input the country code, but I dont activate the 114 within ProSeries.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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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
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No attachment needed.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Thanks. My understanding is that 'if' the 114 is prepared by me it is attached to the 1040, and forwarded to Treasury by IRS. ?
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As I thought.
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If you had prepared it, it would be a separate filing, it still wouldnt be attached to the 1040.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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You are correct - thanks