I am not familiar with foreign income, and I find it a bit challenging to prepare Form 1040 for worldwide income.
Here's my question - Is self-employment (SE) from foreign income, reported on Schedule C, taxable for Social Security and Medicare at the rate of 12.40% on Form 1040? This is not for a clergy or member of a religious order. If SE income is taxable when Form 1040 is filed, what makes SE different from earned foreign wages? Foreign wages are not taxable for SS and Medicare on a US Form 1040?
