How do I create a Form 114 for only the Spouse if my clients filed their Federal 1040 using a Married Filing Joint (MFJ) filing status?
How to prepare a Form 114 Report of Foreign Bank and Financial Accounts (FBAR) for a spouse.
In ProSeries, the individual listed as the taxpayer in a Federal 1040 will be assigned as the primary on the Form 114. When a Form 114 must be filed for a spouse, simply create a new data file and enter that individual's (the spouse's) basic information as the "Taxpayer" on the Federal Information Worksheet.
- In ProSeries, on the File menu select New Client.
- When prompted to 'Select Type' of return, select a Form 1040: Individual Income Tax Return and click OK.
- On the Federal Information Worksheet, complete Part I - Personal Information, where you will enter the spouse's information as the Taxpayer. Only this individual's basic information is required.
- Scroll down to Part VI - Electronic Filing of Tax Return Information and mark only the checkbox to File Form 114 Report of Foreign Bank and Financial Accounts (FBAR) electronically.
- You may now open the Form 114, Foreign Bank and Financial Report to complete the return for the spouse. From the File menu, choose Go to Foreign Bank Reporting Form 114.
- When the Form 114 is complete, Save the return. You may then proceed with electronically filing the Form 114 for only the spouse.
See the Tax Help (F1) for the Foreign Bank Accounts Information Worksheet for additional information.