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We are currently live in china. our income for 2017 is from china, so how we do tax for this part? please help. [[ pii removed ]]

Forum|Forum|7 years ago
June 5, 2019
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TurboTax Basic Online

Best answer by PopeyeTheSalior

If you are a US citizen or resident, live and work outside the United States for at least 330 days during 12 consecutive months, you may be able to exclude your foreign income from your taxes. For more information, see Foreign income and exclusion and Extension . For the tax year of 2017, the maximum foreign earned income exclusion amount is $102,100.

To enter foreign earned income / exclusion in TurboTax online program:

1. After sign into your account, select Take me to my return

2. At the right upper corner, in the search box, type in foreign income and Enter

3. Select Jump to foreign income

4. Next screen, Did You Make Any Money Outside the United States? answer Yes

5. On screen, What Form(s) Was Foreign Income Reported On ? make your selection and follow prompts

To receive help from an expert, please see

https://ttlc.intuit.com/replies/6382274

Y

yanqingxiaAuthor

Hi,
thanks for the very helpful email.
I am US citizen, stayed in china more than 330 days, and I earned income from china in 2016,

I have one question:

I have bank account in china , around $20,000, so from your online turbotax, where I can file this foreign financial account?

this in our first time to file foreign income, so we have more questions,

thanks,

yanqing Xia

PopeyeTheSalior

Employee

Please see answer below.

PopeyeTheSaliorAnswer

Employee

If you are a US citizen or resident, live and work outside the United States for at least 330 days during 12 consecutive months, you may be able to exclude your foreign income from your taxes. For more information, see Foreign income and exclusion and Extension . For the tax year of 2017, the maximum foreign earned income exclusion amount is $102,100.

To enter foreign earned income / exclusion in TurboTax online program:

1. After sign into your account, select Take me to my return

2. At the right upper corner, in the search box, type in foreign income and Enter

3. Select Jump to foreign income

4. Next screen, Did You Make Any Money Outside the United States? answer Yes

5. On screen, What Form(s) Was Foreign Income Reported On ? make your selection and follow prompts

To receive help from an expert, please see

https://ttlc.intuit.com/replies/6382274

PopeyeTheSalior

Employee

To enter foreign bank account information, In TurboTax Live account, please follow these steps:

After sign into your account, select Pick up where you left off
To your right upper corner, in the search box, type in "foreign accounts and trusts, questions on schedule b"
Select Jump to foreign accounts and trusts, questions on schedule b
On the screen, Tell Us About Any Foreign Bank Account, make your selection and select Continue to proceed