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Get your taxes done using TurboTax
@Workbank , assuming
(a) that you are US person ( citizen/ Green Card ),
(b) that you are residing in a country which has tax treaty with the US
(c) that you meet the general requirements of Physical Presence Test;
(d) that your test period for the Physical Presence Test is the calendar year 2020 (i.e. 01/01/2020 thtough 12/31/2020 )
(e) that you wish to exclude foreign earned income
(f) that you are self employed ( or a wage earner and employed by a local entity )
Then you report your gross self-employment ( and/or sole proprietor ) on Schedule C as if you were operating in the USA. Thus you report your gross of 95K ( your example ) and expenses of 27K ( your example ). This will allow TurboTax to fill out the Schedule C with a net income of 68K and a Schedule-SE for SECA taxes approx 10K. This will now flow to form 1040 showing an income of 68K ( net income ) as business earnings and also an adjustment of 5K ( 50% of the SECA taxes ) i.e. your AGI would be 63K ( 68K less 5K ). Your taxable income would be 68K less your standard deduction ( if that is what you choose to use ).
Thereafter you choose "foreign income and exclusion " under "less common incomes" category. Here you say that you have foreign income you want to exclude -- the income is 68K ( the net foreign self-employed income ) -- this will lead to form 2555. Make sure that the form 2555 shows the gross income for exclusion as 68K ( per your example ).
More I can do for you ?