ThomasM125
Expert Alumni

Get your taxes done using TurboTax

First, you need to report your foreign income. You can do that in the Less Common Income section of TurboTax, then Foreign Earned Income and Exclusion. Then, you need to go to the Estimates and Other Taxes paid section in  the Deductions and Credits area of TurboTax to assign your foreign income to a country and enter your foreign taxes paid. Choose the Foreign Taxes option and work through that section. That may qualify you to get a credit for your foreign taxes paid.

 

You will get credit for foreign taxes paid to the extent you have income tax on your US tax return that is associated with your foreign income. Any unused credit can be carried back one year for forward up to ten years to be used in future years when you have foreign income that is taxed on your US tax return.

 

If you are a bonafide resident of the foreign country or will be there for 330 consecutive days, you may qualify to exclude all or a portion of your foreign income from taxation. You will see questions in the Foreign Income and Exclusion section to apply for that. If your foreign income is excluded, you won't qualify for the foreign tax credit, as that only applies to the portion of your US income tax that is based on your foreign income.

 

[Edited 4/2/24 at 10:45 AM EST] @maggiebaby2011 

 

 

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