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cdr13
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Overseas and do not have a W-2 where do i enter income

 
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3 Replies

Overseas and do not have a W-2 where do i enter income

You enter your foreign earned income on Form 2555

 

To enter Foreign Earned Income -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Less Common Income
  • On Foreign Earned Income and Exclusion, click on the start or update button

Or enter foreign income in the Search box located in the upper right of the program screen. Click on Jump to foreign income

Overseas and do not have a W-2 where do i enter income

If you are self employed it goes on the Sch C just like if it was earned in the US. 

 

If this was wages ...  

If you did not receive a W-2 for your wages, there is no need to complete the W-2 section.  Report your foreign earned income on Form 2555.

If you started a W-2, then delete the W-2.

Enter w-2 in the Search box located in the upper right of the program screen.  Click on Jump to w-2

To enter Foreign Earned Income -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Less Common Income
  • On Foreign Earned Income and Exclusion, click on the start or update button

Or enter foreign income in the Search/Find box located in the upper right of the program screen.  Click on Jump to foreign income

pk
Level 15
Level 15

Overseas and do not have a W-2 where do i enter income

@cdr13 , while I agree with @Critter-3  instructions on how to report  foreign earned income for purposes of  exclusion from US taxes  ( up to the limit declared by the IRS each tax year ), I would just like to add ---

In case of  self-employed  foreign earned income, after reporting the income ( gross less the allowed expenses per US laws ),on Schedule -C, you need to report this net income just as if you have had foreign wages  i.e. follow the  steps described by @Critter-3 --- only difference being this time you use the net from Schedule-C instead of the income statement  from your employer ( if you were a wage earner ). 

Also note that for self-employed whether living abroad ( foreign tax home ) or domestic, the schedule-C would generate  Schedule-SE for purposes of collecting  SECA  ( equivalent of FICA from wage earners except you get to  pay the whole 15.3 % instead sharing 50-50 with your employer ).  However, if there is a Totalization agreement  between US and the country where your tax home is , then you may have to take into account as to if you are liable  or not for SECA  on your US filings.

 

pk

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