Schedule C or as Foreign Earned Income, not form 4852. Form 4852 is for employees who's US employer did not issue a W-2 when they were required to. Since the foreign university is not required to s...
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Schedule C or as Foreign Earned Income, not form 4852. Form 4852 is for employees who's US employer did not issue a W-2 when they were required to. Since the foreign university is not required to send you a W-2, form 4852 would not be appropriate.
Reporting on Schedule C, will require you to pay Self-Employment Taxes which are 15.3% which is the Medicare and Social Security Taxes. You will do this if the university does not exert control over the how, what and when you perform your job. To include a Schedule C on your return using TurboTax, you would need to use TurboTax Home and Business or TurboTax Premium.
How do I report income from self-employment?
If they do control how and what and where you teach, then you would be considered an employee and would report your income on line 1h of form 1040 You can do this by going through the foreign earned income section and answering the questions accurately. Since you are only abroad for 2 months, you would not qualify for earned income exclusion, however, if they do withhold taxes for the foreign country or you pay them directly to the foreign country, you may be able to take a foreign tax credit.
To enter foreign earned income select the following:
Federal
Income
Less common Income
Foreign Earned Income and Exclusion