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I have to enter 58 PFIC (Mutual Funds) for one of my client. Is there a easier way to enter these info into the Form 8621 since Pro series do NOT support Form 8621.

Sanjnepal
Level 1

Is there a way to file a tax electronically without the form 8621 and send these files to IRS as PDF attachment?

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itonewbie
Level 15

You'll need to attach the form as a PDF to the return in PS and e-file that together with the 1040 after making the necessary override(s) on 1040 for QEF/MTM.  If these are foreign mutual funds, however, more likely than not, you client won't have the annual statement necessary to make the QEF election to start with.

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Still an AllStar

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1 Comment 1
itonewbie
Level 15

You'll need to attach the form as a PDF to the return in PS and e-file that together with the 1040 after making the necessary override(s) on 1040 for QEF/MTM.  If these are foreign mutual funds, however, more likely than not, you client won't have the annual statement necessary to make the QEF election to start with.

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Still an AllStar