Having health/medical insurance through IMSS in Mexico, will I be exempt from any penalties for not carrying insurance through a US insurer? There are no penalties for not have medical insurance.
If I claim the Foreign Earned Income Exclusion, do I need to also file a return for the State of Oklahoma? Yes, your gross income exceeds the OK filing threshold for MFS which is $7350. Here is an OK reference.
If I claim the Foreign Earned Income Exclusion, do I need to also file taxes with the foreign government of my Tax Home? You will need to ask the tax authorities in Mexico about their filing requirements
If I claim the Foreign Earned Income Exclusion, do I need to pay SS and Medicare? Yes, you will pay SE taxes on all profits even if income is excluded from the income taxes. Here is the IRS reference.
If I claim the Foreign Earned Income Exclusion, do I need to return any stimulus money that I received? If so, will I need to pay interest and penalties on that stimulus money? No. The foreign income exclusion does not affect your stimulus payments.
If I claim the Foreign Earned Income Exclusion, is my conversion from a US-based IRA to a US-based Roth IRA counted as foreign income? No, the US income is not Foreign Earned Income.
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