Deductions & credits
DaveF1006
I finished entering all the expenses. Based on my calculations I should owe $2,604.82 (15.4%) in self-employment tax on taxable income of $17,025. I should owe no income tax due to Foreign Earned Income Tax exclusion. Is this calculation correct?
I finished entering all the expenses. Based on my calculations I should owe $2,604.82 (15.4%) in self-employment tax on taxable income of $17,025. I should owe no income tax due to Foreign Earned Income Tax exclusion. Is this calculation correct?
Note: I do not have W2 income and I did not enter it, just income & expenses in Schedule C.
