If you are self employed it goes on the Sch C just like if it was earned in the US. If this was wages ... If you did not receive a W-2 for your wages, there is no need to complete the W-2 section. Report your foreign earned income on Form 2555.If you started a W-2, then delete the W-2.Enter w-2 in the Search box located in the upper right of the program screen. Click on Jump to w-2To enter Foreign Earned Income -Click on Federal Taxes (Personal using Home and Business)Click on Wages and Income (Personal Income using Home and Business)Click on I'll choose what I work on (if shown)Scroll down to Less Common IncomeOn Foreign Earned Income and Exclusion, click on the start or update buttonOr enter foreign income in the Search/Find box located in the upper right of the program screen. Click on Jump to foreign income

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cdr13

Level 1

Question

Overseas and do not have a W-2 where do i enter income

Forum|Forum|3 years ago
September 8, 2022
2 replies
32 views

No text available

TurboTax Self Employed Online

DoninGA

Level 15

You enter your foreign earned income on Form 2555

To enter Foreign Earned Income -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Less Common Income
On Foreign Earned Income and Exclusion, click on the start or update button

Or enter foreign income in the Search box located in the upper right of the program screen. Click on Jump to foreign income

Critter-3

Level 15

If you are self employed it goes on the Sch C just like if it was earned in the US.

If this was wages ...

If you did not receive a W-2 for your wages, there is no need to complete the W-2 section. Report your foreign earned income on Form 2555.

If you started a W-2, then delete the W-2.

Enter w-2 in the Search box located in the upper right of the program screen. Click on Jump to w-2

To enter Foreign Earned Income -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Less Common Income
On Foreign Earned Income and Exclusion, click on the start or update button

Or enter foreign income in the Search/Find box located in the upper right of the program screen. Click on Jump to foreign income

pk_

Level 15

@cdr13 , while I agree with @Critter-3 instructions on how to report foreign earned income for purposes of exclusion from US taxes ( up to the limit declared by the IRS each tax year ), I would just like to add ---

In case of self-employed foreign earned income, after reporting the income ( gross less the allowed expenses per US laws ),on Schedule -C, you need to report this net income just as if you have had foreign wages i.e. follow the steps described by @Critter-3 --- only difference being this time you use the net from Schedule-C instead of the income statement from your employer ( if you were a wage earner ).

Also note that for self-employed whether living abroad ( foreign tax home ) or domestic, the schedule-C would generate Schedule-SE for purposes of collecting SECA ( equivalent of FICA from wage earners except you get to pay the whole 15.3 % instead sharing 50-50 with your employer ). However, if there is a Totalization agreement between US and the country where your tax home is , then you may have to take into account as to if you are liable or not for SECA on your US filings.