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Deductions & credits
Here is what I would suggest to enter:
You would first enter your foreign self-employment income under Schedule C. Here are the steps:
In TurboTax online,
- After sign into your account, select Pick up where you left off
- To your right upper corner, in the search box, type in schedule c
- Follow prompts
To allow the program to exclude the foreign self-employed income, you would then enter info under Foreign Income by following these steps:
- At the right upper corner, in the search box, type in foreign income and Enter
- Select Jump to foreign income
- Next screen, Did You Make Any Money Outside the United States? answer Yes
- On the screen, What Form(s) Was Foreign Income Reported On ? select A Form 1099-MISC or other self-employment income
- Follow prompts
The foreign earned income exclusion applies to your self-employment income and reduces the income tax. However, it does not exclude the self-employment SE taxes. By following the steps above, the program will exclude your self-employment income but will still calculate the SE tax.
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March 19, 2021
4:31 PM