Please enter brutto income (also called gross income) when reporting foreign income. If you paid any foreign tax, you may qualify for a foreign tax credit on income that is not excluded due to foreign earned income exclusion.
To enter worldwide/foreign
income in Turbo Tax:
- Federal Taxes
- Select Wages and Income
- Scroll
down to Less Common Income
- Select Foreign Income and Exclusion - Answer
“Yes” to “Did you make any money outside the United States?” and follow
the interview questions. You will be asked to enter income from a U.S
company, a foreign company, self-employment income, housing allowance,
income from a Form W-2, 1099-MISC, schedule K-1 from a business or simply
cash income - check the box A statement from
my foreign employer (could be cash).
Once foreign income is entered, please follow Foreign Tax Credit data entry:
- Federal Taxes
- Deductions & Credits
- Scroll down to Estimates
and Other Taxes Paid, select Foreign Taxes