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Category: Miscellaneous
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Orange arrow Schedule B - Foreign Accounts and Trusts

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  Schedule B Part III: Foreign Accounts and Trusts Regardless of whether you are required to file FinCEN Form 114 (FBAR), you may be required to file Form 8938, Statement of Specified Foreign Financial Assets, with your income tax return. Failure to file Form 8938 may result in penalties and extensi...
Posted in: Income, Miscellaneous

Orange arrow Where to enter Gifts/Contributions other than by cash or check to complete Form 8283

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  Go to the deductions page of the federal reurn entries. In the GIFTS/CONTRIBUTIONS OTHER THAN BY CASH OR CHECK page If the Contributions were more than $500 choose that option. Next page Add a New 1098-C, save and continue if you do not have one Next page Add information on a donated property ...
Posted in: Miscellaneous

Orange arrow Form 8275 - Disclosure Statement

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  Form 8275 is used by taxpayers and tax return preparers to disclose items or positions, except those taken contrary to a regulation, that are not otherwise adequately disclosed on a tax return to avoid certain penalties. The form is filed to avoid the portions of the accuracy-related penalty due to...
Posted in: Miscellaneous

Orange arrow Do I need to file form 8275-R?

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  Form 8275-R is used by taxpayers and income tax preparers to disclose positions taken on a tax return that are contrary to Treasury regulations. The form is filed to avoid the portions of the accuracy-related penalty due to disregard of regulations or to a substantial understatement of income tax i...
Posted in: Miscellaneous


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