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March 14, 2023
Question

How to file Overseas incoming?

  • March 14, 2023
  • 1 reply
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Hi

I lived in USA for 2022 whole year.  But I have 2 incomings in China and do not know how to file. 

 

A. Wage. The Chinese company pay me in China without W-2 file, how to file?

 

B. I have some earnings in Security account in China, short term trading, no forms.  How to file?

 

Thanks a lot!

 

 

    1 reply

    March 14, 2023

    You can file the wage type income that you received from the Chinese company as Other Income. There won't be any social security or medicare taxes paid for your retirement account in the US since these are wages from China.

     

    To enter the Wage income as other income, follow these steps:

     

    1. Open your return.
    2. Click on Federal Taxes.
    3. Go to Wages & Income
    4. Scroll to the bottom under Less Common Income select Start (or Update) for Miscellaneous Income.
    5. Choose the appropriate category and enter your Other Income

    Short Term stock sales are reported as Investment income. You don't have a Schedule B, but you will enter it as though you do.

    1. Click on the Wages & Income tab
    2. Next click on I'll choose what I work on
    3. Scroll down the screen until you come to Investment Income
    4. Choose Stocks, Mutual Funds, Bonds, Other and select Start or Update
    5. The first screen will ask if you sold any investments during the year, answer yes
    6. Did you get a 1099-B or a brokerage statement for these sales? Answer No
    7. Tell us about this sale, Click I'll enter one sale at a time
    8. The drop-down boxes can be filled out with the details of the sale

     

     

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