Question

Help with Entering Taxes for Self Employment

Forum|Forum|3 years ago
April 25, 2023
1 reply
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see below

Employee

@koalatax , which country are you in and when did you enter that country ? Is that country also taxing you on your total income or what ?

I will circle back once I hear from you

K

koalataxAuthor

hi, i already found an answer to this, but really appreciate your response!

P

pk12_2

Employee

@koalatax , thank you very much closing the loop and that you have had your question already answered.

Just wanted to be sure that you understood :

(a) that for the self-employed portion of your income , the amount transferred to form 2555 ( Foreign Earned Income Exclusion ) is the same as the amount shown as income for Schedule-SE ( Self-Employment Tax);

(b) that unless the country where you have your tax home has a Totalization agreement with US, your wages ( from employment ) are also subject to Social Security / Medicare taxes and is best done by reporting as if this was self-employment income ( Schedule-C ) except that there is no deductions allowed .

Hope this does help --- Is there more one can do for you