Hi @DaveF1006, I have completed all the steps as you mentioned in your thread.
1. Reported the my spouse business income in Schedule C
2. Reported the Farm income in Schedule F (Since he is actively involved and SE tax is calculated for this income too)
3. In FEIE section he did qualify for exclusion so I put all the gross income from both & deducted 1/2 of SE tax.
4. In federal review page, it shows as - Other income, -$5,305
It looks like the amount I entered in FEIE after minus of 1/2 SE tax it is showing up as other income with minus sign.
My question in your thread you have instructed to do as below:
After this is complete, you will exclude the net income amount by doing this.
- Select Wages and income
- Less Common income
- Miscellaneous Income, 1099-A, 1099-C
- Scroll to the bottom of the page to Other Reportable Income
- Other taxable income, answer yes
- Then give a brief description of the income and the amount listed. Here you will list this as Foreign Self-employment income excluded and record the net income as a negative number by placing a minus sign in front of the amount.
Do I still need to do this manual exclusion ? Or is it not required as turbo tax will handle it on its own. Looking forward to your guidance.
