As the title says, is foreign salary income a nonbusiness income? I need to figure out my net operation loss. In the worksheet, it asks for nonbusiness income.
TurboTax doesn't consider my foreign income as taxable income because I meet some qualifications. I'm not sure whether foreign income is nonbusiness income though when calculating net operation loss.
"No, any salary (regardless of it being foreign or being excluded) is NOT non-business income."
Thank you for the reply and the link.
According to the linked article, interest on investments is counted as nonbusiness income. What about bank interest? Is putting money in a bank considered an investment?