How and where on the Turbotax (self-employed) program do you input foreign earned income for Form 2555? I live and work abroad full time.

Forum|Forum|4 years ago
April 8, 2022
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I qualify for an exclusion under the bona fide residence test, but i see nothing on turbotax federal for Form 2555.

TurboTax Self Employed Online

Best answer by AmyC

Follow these steps:

use the magnifying glass
enter foreign income
click the magnifying glass beside foreign income
click the jump to foreign income link

Alternatively, go to federal income and scroll down to Less Common Income.

If you earned more than you can exclude, you will have regular income to report. If you paid taxes in another country, you will file form 1116 for a credit- usually. In that case. follow these steps, Where do I enter the foreign tax credit (Form 1116) or deduction?

OR go to federal income

AmyCAnswer

Employee

Follow these steps:

use the magnifying glass
enter foreign income
click the magnifying glass beside foreign income
click the jump to foreign income link

Alternatively, go to federal income and scroll down to Less Common Income.

OR go to federal income

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mjwinklertaxesAuthor

Thank you! I was able to report my income as foreign earned and qualify for the exclusion (Form 2555). I then deleted the same income from the "self employment income and expenses" section where I had initially reported it, but I'm not sure that was correct. I was worried about that amount being duplicated and reported twice. However, without income reported in that section, TurboTax is not able to complete the calculation of home office expenses. What do you advise?

raggedyak

Hi, did you get an answer to this?

I am trying to work out how to report income through a foreign disregarded entity (limited company in the UK). I'm not sure whether to complete this as self employment in Turbotax, or as foreign earned income, or both.