When I am stating my foreign income do I announce the income before I pay tax (to the foreign country) or the net income after tax?
For example, say my before tax income in Turkey is $3500. But, I pay $1000 tax to Turkey. When I am reporting my foreign income to the US, should I say $3500 or $2500 for my foreign income?
Thanks
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You will report your gross income before any taxes were withheld.
In your example, you would report $3,500 as your income.
You may be eligible for a credit on the taxes you paid to the foreign country.
You will report your gross income before any taxes were withheld.
In your example, you would report $3,500 as your income.
You may be eligible for a credit on the taxes you paid to the foreign country.
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