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am66
Level 2

foreign money earned

I work in the US and received a W2 for my work in the US.  I spoke at a conference in another country which I received a check for as compensation.  I did not pay any taxes to the foreign government.  Where should I enter this amount and can I deduct expenses from this like meals, transportation and lodging. Where do I enter this.

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3 Replies
MinhT1
Expert Alumni

foreign money earned

You should report the speaking fee as self-employed income under Other self-employed income.

 

Against that income, you can deduct ordinary and necessary expenses.

 

You should use TurboTax Self-employed online or TurboTax Home & Business CD/Download.

 

To enter this income and related expenses in TurboTax, please see this TurboTax answer.

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am66
Level 2

foreign money earned

I work in the US and receive a W2.  If I gave a lecture not in the US and received a check for it and put it on my taxes as self employed income does this a QBI.

Thanks

LinaJ2020
Expert Alumni

foreign money earned

Yes, it does.  The Qualified Business Income deduction applies to most of the self-employed taxpayers.  To see more information, click here: QBI

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