Per IRS, a qualifying individual may claim the foreign earned income exclusion on foreign earned self-employment income. The excluded amount will reduce the individual’s regular income tax, but will not reduce the individual’s self-employment tax.
To enter your foreign self employed income in TurboTax online program, you need to enter the information in two places. First go to:
1. Sign into your account and
select Take me to my return
2. At the right upper corner, in the
search box , type in schedule C and Enter
3. Select Jump to schedule
C
4. On screen, Did you have any
self employment income or expenses? Answer Yes, continue
through step-by-
step interview questions about your business
5. On screen, Can we help you
report any other income for business?, select Additional Income and continue to follow the prompts
Then you will need to enter as a foreign income, here are the steps:
1. After sign into your account, select Take
me to my return
2. At the right upper corner, in the
search box , type in foreign income and Enter
3. Select Jump to foreign
income
4. Next screen, Did You Make
Any Money Outside the United States? answer Yes
5.
On screen, What Form(s) Was Foreign
Income Reported On ? select
A Form 1099-MISC or other self- employment
income and Continue
[Edited 2/24/2017]
