Am I able to do this? How do I do this? When I try to do so on the turbotax interface I can't see any way to.
Thank you for any help.
@blakeviall , if you used desktop version then it is easy --- just open your 2018 TurboTax and tell TurboTax you want to file and amended return and it will walk you through all the steps.
If you used on-line version then , it is difficult because the 2018 on line version is no longer available - you should call customer service on how to get your tax file from 2018 on line , download to your computer, get a copy of 2018 software and then work on amended return as above.
Note that amended returns must be filed by mail to IRS.
If you need more on this , please let me know what I can do for you.
I am assuming here that you are US citizen/Resident ( Green Card ) and have been abroad for more than a year ( which country ? and employed by a foreign entity.
I'm trying to amend my 2019 tax return for this same reason and I can't figure out which "form" my foreign income was reported on (from the turbotax desktop program tax amendment questionnaire). I don't get a W-2, I just earn income and then I have a foreign tax exemption so I don't owe taxes. I don't have a special form for that, though, I don't think.
@jfree91 , assuming that (a) you are US citizen/GreenCard holder ; (b) you have been abroad for 12 months now; (c) you filed 2019 without taking advantage of foreign earned income exclusion ; ( you are either self-employed or are employed by a local entity----
1. you start by following the "amend a return" prompt and then under personal income tab, select " I will choose what I work on"; from the drop down list select "foreign earned income and exclusion " --- select update /edit on the right and follow through --- make sure that the amount of income entered is correct; it should then ask if you want to try foreign earned income exclusion; follow with this and the follow on screens -- this should allow you to fill out the form 2555 , resulting in a negative income amount on form 1040 and reducing your AGI.
2. There are other ways of doing this also , especially if you are using desktop version of the program -- a bit more involved --- directly adding the form 2555 in forms mode and then using the step-by-step mode to fill it out.
Do you need more help ? ( Screen by Screen ? )
You would use the following tabs in TurboTax to apply for your foreign earned income exclusion:
- Wages and Income
- Less common income
- Foreign earned income and exclusion
- Did you make income outside the United States? (yes)
- What form was income reported on? (stmt from foreign employer)
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And then from that point, I put in the USD equivalent income and then what? I've been told I need to fill out the 2555 form to exclude the foreign-earned income. (Sorry I'm asking so many questions. I just want to get all the details before I move forward with the form.)
Thank you so much for your help so far!
@jfree91 , are you saying that even using the desktop version, you cannot use the two options I suggested earlier ? Please let me know and give me as much detail as you can ( PM me if the material becomes too personal ) and I will simulate your particular case -- I have both 2019 and 2020 Home & Business on my machine