Hi,
The 30k gross wages are for employment work for a Canadian company (work is done remotely within the U.S. but I am technically an employee of the Canadian company since I began that job when I was in Canada before relocating to the U.S.). My concern with "self-employment" that this may subject me to self-employment tax, no? If so, then I am still being taxed in Canada as an employee and then in the U.S. as self-employed, correct?
You state below that I should enter the "net income" but form 1116 asks for the gross income, not net. Please explain.
The interest income is from Canadian banks. But TurboTax says on form 1116 "Do not enter any income already reported on Form 1099-INT" but I have also paid tax on this interest income. If I can't report it on form 1116, my foreign tax credit will be lower and I will be taxed again on this income in the U.S.
