If you received a 1099-NEC you are considered to be self-employed and will report your self-employment on Form 1040 Schedule C regardless of where you perform your self-employment work. Turbotax will calculate any self-employment tax you may owe based on your Schedule C entries.
Once you have completed Schedule C and know your net income you will report that income on Form 2555. If you qualify for the Foreign Earned Income Exclusion (FEIE) your self-employment will not be taxed. Your income may be excluded from income tax but you will still have to pay any self-employment tax to exclude the income if you qualify.
To enter your income on Form 2555 follow these steps:
- Open you account
- Type foreign income in the search box
- Click on Jump to foreign income in the results box
- Follow the screen prompts to enter your information
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