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I’m living/working abroad - moved in Sep of 2021. I submitted my W2 for my US employer for Jan-Sep, but do I also need to submit a 2055 for my 3 months of foreign income

 
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2 Replies
TeresaM
Expert Alumni

I’m living/working abroad - moved in Sep of 2021. I submitted my W2 for my US employer for Jan-Sep, but do I also need to submit a 2055 for my 3 months of foreign income

Your foreign income will be reported under the section Less Common Income in Foreign Earned Income and Exclusion
 

Foreign earned income includes wages, salaries, bonuses, commissions, professional fees, and tips earned in a foreign country, foreign earned income also includes foreign business profits if 100% of the profits were derived from your personal services.

 

This is where you should report any foreign earned income that you have not already reported in other areas (such as your W-2, or 1099-INT, or 1099-DIV).

 

When you come to the screen that says Would You Like to Try and Exclude Your Foreign Earned Income?  This is where you would check if you can take advantage of  Foreign Earned Income Exclusion. Or you can decline to exclude the income and check if the Foreign Tax Credit might be a better fit.  You can even combine them but cannot double-dip on the same earnings.

 

This is a TurboTax Help article with information about choosing which is better for you. You may wish to try it one way on your return and then the other, to see which has the better outcome.  Foreign earned income

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I’m living/working abroad - moved in Sep of 2021. I submitted my W2 for my US employer for Jan-Sep, but do I also need to submit a 2055 for my 3 months of foreign income

If you actually "submitted" the return with only the wages on it (and it was accepted for processing) then you will need to amend the filed return once the IRS finishes processing the original return in full ... do not file the amendment sooner.

 

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