I am a resident and owe tax on my foreign income. Do I need to report foreign taxable income or total income?
Part of my foreign income is non-taxable in the foreign country, like contribution to a foreign pension plan, foreign health plan. Is that taxable by U.S.?
You'll need to sign in or create an account to connect with an expert.
If you are a U.S. Citizen or resident and living in the U.S., then you have to report all of your foreign income.
Whether amounts are excluded in a foreign countries income tax is mostly irrelevant in the U.S.
However, if you paid foreign taxes, you may be entitled to the foreign tax credit.
Also, you should consult the tax treaty between the country you received the income from and the U. S. According to the tax treaty, there may be possible exclusions, special handling of various types of income.
See this link for foreign tax credit
https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit
Information regarding tax treaties
https://www.irs.gov/uac/about-publication-901
If you are a U.S. Citizen or resident and living in the U.S., then you have to report all of your foreign income.
Whether amounts are excluded in a foreign countries income tax is mostly irrelevant in the U.S.
However, if you paid foreign taxes, you may be entitled to the foreign tax credit.
Also, you should consult the tax treaty between the country you received the income from and the U. S. According to the tax treaty, there may be possible exclusions, special handling of various types of income.
See this link for foreign tax credit
https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit
Information regarding tax treaties
https://www.irs.gov/uac/about-publication-901
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
osgood53
New Member
mosm
New Member
Waterman_23
New Member
jl_brooks
Level 1
debbiecply
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.