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I have this question again regarding my taxes since I live and work in the UK but the company didn't send me here. None of the sections for Wages & Income pertain to me.
I didn't receive a W-2 form, 1099-MISC, a statement from my foreign employer (the company is American), or received an IRS Schedule K-1. Additionally, the employer did not provide me with any good or paid me in cash for things like cost of living, family costs, etc. I was already living here in the UK when I got this job.
After I answer '0' to all these questions I get the question if I would like to try and exclude my foreign earned income. When I answer yes, it says I need to enter in foreign income but none of the options really apply to me.
When I go to 1099-OID, Foreign Accounts section and select that I have a foreign financial asset (since I have lived in the UK I have a UK bank account and get paid into that through my employer). I have less than the amount specified ($200,000) and it says that I don't need to report my foreign financial assets. Is this the correct path I'm supposed to be on? I want to make sure that I am doing my taxes right.
Please let me know!
After I answer '0' to all these questions I get the question if I would like to try and exclude my foreign earned income. When I answer yes, it says I need to enter in foreign income but none of the options really apply to me.
When I go to 1099-OID, Foreign Accounts section and select that I have a foreign financial asset (since I have lived in the UK I have a UK bank account and get paid into that through my employer). I have less than the amount specified ($200,000) and it says that I don't need to report my foreign financial assets. Is this the correct path I'm supposed to be on? I want to make sure that I am doing my taxes right.
Please let me know!
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‎February 19, 2024
5:06 AM