How do I report foreign wages and form 8938?

[Anonymous]

I have foreign wages in 2020, and I also need to file Form 8938.

I would like to ask:

1-1. Is it correct to enter the foreign wages in the following path in turbotax?

        -> Wages & Income

        -> Less Common Income

        -> Foreign Earned Income and Exclusion

1-2. And follow up question is, will it be reported on line 8 of Schedule 1 (Form)?

        Or in which form and line or schedule and line will it be reported?

2. In Form 8938 -> Part III -> (b) Tax item, is Foreign Wages under "d Other income" ?

Thanks.

[JeffreyR77 · Accepted solution]

Yes, if your foreign wages are from a foreign employer without a US Employer ID number. 

It will initially be reported on Form 1040 Line 1. 

If you qualify to exclude some or all of the earning as foreign earned income exclusion, it will be reported as a reduction to income on Schedule 1,Line 8 and on Form 2555. 

Your foreign wages should not be reported on Form 8938 as a foreign asset.

You can complete Form 8938 in TurboTax by typing Form 8938 in the search box and selecting the Jump to link.

[Anonymous]

Thank you so much!