1. Enter it as foreign earned income
2. Report only the net income, subtract out the 401k and any other monies subtracted before pay. You have savings in a foreign country and may have additional rules.
Here is a comparison of the FATCA (Form 8938) and FBAR requirements. Certain U.S. taxpayers who hold foreign financial assets with an aggregate value of more than the reporting threshold must report information about those assets on Form 8938, which must be attached to the taxpayer's annual income tax return.
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