Foreign earned income PLUS US earned income on a married filing jointly?

Forum|Forum|8 years ago
April 8, 2018
1 reply
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SO, I need some advice on how to file and how to get the highest return, because I think even TurboTax is getting confused and does not have an algorithm for our situation.

My husband and I have a few income streams this year... one is work that I did teaching abroad (FAR under the Foreign Earned Income Exclusion amount), then we have his work in the US (also not super high), then we have about $4000 of self-employed income for a US company that I did while working abroad. I have very low (maybe $200-300) of money earned as dividends and interest as well...

We also received a tax credit from the ACA to pay for our health insurance for about 3/4 of the year...

We've had a lot of expenses this year, including preschool childcare and moving and rent. Every time I enter my self-employment income and foreign-earned income, however, Turbo Tax erroneously bumps our "taxable" income WAY higher than it should be....

What should we do?

Critter

Employee

You need to review the return before and after you enter an new piece of income to see how it affects the return ... especially review the form 2555 and it's worksheet. You did not post what version you are using but if it is the Online one upgrading and adding the LIVE function to get one on one help would be wise.