topic Why did my taxes go UP after I identified my self employment income as being foreign-derived earned income which is excludable? in Deductions & credits

Why did my taxes go UP after I identified my self employment income as being foreign-derived earned income which is excludable?

rodgerse11 — Mon, 09 Dec 2019 23:36:50 GMT

Re: Why did my taxes go UP after I identified my self employment income as being foreign-derived earned income which is excludable?

Critter — Tue, 10 Dec 2019 21:21:17 GMT

You may be able to exclude the SE income from federal taxes but you will still owe SE taxes on the profits.

Re: Why did my taxes go UP after I identified my self employment income as being foreign-derived earned income which is excludable?

Critter — Tue, 10 Dec 2019 21:40:42 GMT

And by removing the income you may have lost some or all of the credits that was paying off the SE taxes ... I suggest you look at the form 1040 before and after that change to see exactly what actually happened.