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pcarmines
New Member

Some income for my business was a consulting fee from Sweden. Do I report this foreign income on Schedule C or under Personal/Foreign Earned Income and Exclusion?

 
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4 Replies
RichardK
New Member

Some income for my business was a consulting fee from Sweden. Do I report this foreign income on Schedule C or under Personal/Foreign Earned Income and Exclusion?

No, if you are in the U. S. a consulting fee from Sweden, will not qualify for the earned income exclusion, you add the income from Sweden to your other (US) income. 

pcarmines
New Member

Some income for my business was a consulting fee from Sweden. Do I report this foreign income on Schedule C or under Personal/Foreign Earned Income and Exclusion?

Sweden withheld taxes from this income that was earned during a short trip there. If I report the income as business income, can I claim credit for foreign income taxes or a deduction for those taxes?
pcarmines
New Member

Some income for my business was a consulting fee from Sweden. Do I report this foreign income on Schedule C or under Personal/Foreign Earned Income and Exclusion?

Sweden withheld taxes from this income that was earned during a short trip there. If I report the income as business income, can I claim credit for foreign income taxes or a deduction for those taxes?
RichardK
New Member

Some income for my business was a consulting fee from Sweden. Do I report this foreign income on Schedule C or under Personal/Foreign Earned Income and Exclusion?

You may be able to claim a foreign tax credit or a deduction for the Swedish taxes paid

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