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I live in a foreign country and i am US citizen. How, what form do I use to report my self employment income (as a sole proprietor) on my US tax return? I assume it is not schedule C because on schedule C I did not see a field for "country" in address field. So what form or forms exactly?
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Yes, you do still use Schedule C if you are filing a Form 1040 as a US Citizen living abroad. In TurboTax, select Foreign Address for the mailing address for your business.
thanks but on the actual schedule C from IRS, (that I downloaded now and looked at the pdf), the format of address field there doesn't have place for foreign country. It is in US address format. So you are still able to write that foreign address there somehow? Or it is just left blank and efiled that way to IRS as blank (because in first page of my tax return there will be my foreign address anyway)?
So, we actually do it like filling a schedule C, as if we were in the US, and NOT like filling a foreign earned income form right? And then, IF we choose, we can claim foreign earned income exclusion separately. (for me i am below $10000 for the year so i do not need it anyway)... Is my understanding correct?
You can enter your foreign address on the printed Schedule C despite the pre-printed format. You can write whatever you wish. And yes, you first report your income and then take the Foreign Earned Income Exclusion by filling out Form 2555. Your understanding is correct.
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