2875147
You'll need to sign in or create an account to connect with an expert.
The US taxes its taxpayers on their worldwide income. So, yes, you are expected to report your income in Vietnam, even if you are not eligible for the foreign earned income exclusion. On the other hand, the US offers tax credits for foreign taxes paid on income reported, so you may be able to deduct some or all of the taxes you paid in Vietnam. Also, if you report this as self-employment income on your US return, you may be able to deduct related business expenses of earning this income.
Oh, and yes, all US taxpayers who have any taxable income are expected to file, even if you don't owe income tax once you have filed. This can actually end up helping you in certain situations, because it documents your earnings.
The US taxes its taxpayers on their worldwide income. So, yes, you are expected to report your income in Vietnam, even if you are not eligible for the foreign earned income exclusion. On the other hand, the US offers tax credits for foreign taxes paid on income reported, so you may be able to deduct some or all of the taxes you paid in Vietnam. Also, if you report this as self-employment income on your US return, you may be able to deduct related business expenses of earning this income.
Oh, and yes, all US taxpayers who have any taxable income are expected to file, even if you don't owe income tax once you have filed. This can actually end up helping you in certain situations, because it documents your earnings.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
travelinrouge
New Member
urban-hipo
Returning Member
in Education
crr4000
Level 3
NicoleLannertone
New Member
jorowe25
New Member