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xyz7878
New Member

I have both W2 and 1099-K (self-employment) for 2024. Both are foreign income, but Turbotax only recognises my W2 (not 1099K) when calculating foreign income credit.

How do I get Turbotax Premium recognise both my W2 and 1099-K incomes when calculating foreign income credit/deduction?
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1 Reply
DianeW777
Expert Alumni

I have both W2 and 1099-K (self-employment) for 2024. Both are foreign income, but Turbotax only recognises my W2 (not 1099K) when calculating foreign income credit.

Foreign income must be reported in the specific section so that TurboTax knows what income should be included as foreign for your credit.

  1. Open your TurboTax Desktop (Premier) tax return.
  2. Search (upper right) > type  foreign income > Click the Jump to.. link
  3. Answer 'Yes' Did you make any money outside the US?
  4. Next, check box next to A Form 1099-MISC or other self employment income
  5. Enter the Foreign Gross Profit in US dollars
  6. Continue to answer the questions and keep your 1099-K in your tax files

If you did enter your 1099-K you can delete it using the link below for your TurboTax version.

 

  • If you're using TurboTax Online software and need to delete a form, click here.
  • If you're using TurboTax Desktop software and need to delete a form, click here.

                

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