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namdrib
New Member

Living outside the us

I am living/working in New Zealand how do I claim my foreign income without a w2?
1 Reply
JohnR1
New Member

Living outside the us

U.S. citizens and resident aliens are subject to U.S. federal taxation, irrespective of whether they are working in the U.S. or in a foreign country.  So your income earned in New Zealand will be subject both to U.S. federal and New Zealand taxation.

However, there are provisions in the U.S. tax code to mitigate double taxation of income earned by U.S. citizens and residents working abroad - if your tax home is abroad and your physical presence outside of the U.S. allows you to meet the tests, you can qualify for a foreign earned income exclusion under 1 of 2 tests, the Bona Fide Residence Test or the Physical Presence Test, as well as a foreign housing exclusion or deduction, for your New Zealand housing costs.  You can also take a foreign tax credit for the New Zealand taxes paid on your unexcluded income earned there, to the extent it is double taxed both by New Zealand and the U.S.

TurboTax supports filing Form 2555, Foreign Earned Income,  to calculate your foreign earned income exclusion and foreign housing exclusion or deduction, as well as Form 1116, Foreign Tax Credit.

The Deluxe, Premier and Self-Employed versions of TurboTax Online all support Form 2555 (not Federal Free), as well as all versions of TurboTax Desktop, for Windows or Mac.

Please see the following TurboTax FAQ, "What are Forms 2555 and 2555-EZ used for?", for instructions on how to enter information in TurboTax about your foreign earned income, even if not reported on a Form W-2:

https://ttlc.intuit.com/replies/3301984

To see where to enter in TurboTax Online foreign income taxes which you paid or accrued in 2016, for purposes of claiming the Foreign Tax Credit on Form 1116, please see the following TurboTax FAQ, "Where do I enter the foreign tax credit (Form 1116) or deduction?":

https://ttlc.intuit.com/replies/3302405


 

 

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