How to file 1040 form to claim the exclusion for paying tax on overseas income (less than 100K)? Where is it in the software? https://turbotax.intuit.com/tax-tips/general

[DoninGA · Accepted solution]

Using the TurboTax online editions you would need the Deluxe edition or higher to report the Foreign Earned Income and Exclusion on IRS Form 2555 - https://turbotax.intuit.com/personal-taxes/online/

See this TurboTax support FAQ for Form 2555 - https://ttlc.intuit.com/questions/1901203-what-are-forms-2555-and-2555-ez-used-for

To purchase products from the TurboTax website you will need a US credit card with a US billing address.

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

[gee]

Would it apply if I received stipend for housing and other costs? It is not earned, but its taxable

[DoninGA]

Yes the housing cost and/or stipend would be included with the foreign earned income calculations.

[gee]

Thanks!