Form 2555 (Foreign Earned Income Exclusion) calculates the amount of foreign earned income and/or foreign housing you can exclude from taxation. Form 2555-EZ is a simplified version of this form. Here's how to add or remove a Form 2555 or 2555-EZ from your return: Open or continue your return. Navigate to the foreign income section:

Jun 4, 2019 · To enter foreign earned income / exclusion in TurboTax Deluxe online program, here are the steps: 1. After sign into your account, select Take me to my return

Oct 15, 2021 · So do I report 68K as my income on form 2555, and which section, because there only appears to be one section for wages and salaries, which I thought was for employed individuals only. Or do I report 95K as my income and then on line 44 report my expenses (27K+4,8040.47 Self employed 1/2 tax)?

Oct 9, 2024 · 3. Form 2555 Line 44 – Deductions Allocable to Excluded Income: Line 44 on Form 2555 asks for any deductions (like business expenses) that are allocable to excluded income. Since your excluded income is solely from the W-2 ($120,000), and your business income is not part of the excluded income (because the FEIE has already been used for the W ...

Jun 6, 2019 · Form 2555, question about calculating number of days in my qualifying period It sounds like under the bona fide residence category, if we have that status for the full year, we don't have to deduct physical presence in the US from our time abroad, thus diminishing the amount of deduction allowed.

Feb 23, 2020 · You will use Form 2555 Foreign Income to claim the Foreign Earned Income Exclusion (FEIE). You will report your W-2 equivalent wages, in Part IV Line 19 Total wages, salaries, bonuses, commissions, etc. . Form 2555. To report your foreign income on Form 2555 in TurboTax follow these steps: Sign in to your account if it is not open

Jan 9, 2024 · If you go to Forms view, the Form 1116 shows: (1) Gross Income from the country I worked in is zero (Box 1a of 1116 – remember last time it indicated that it wanted to pull this number from Form 2555, this time it does not reference 2555, but the field is still blank), (2) Gross Foreign Source Income Box 3d is also zero, (3) Gross Income From ...

Feb 24, 2022 · Form 2555 may have 2 forms, one for taxpayer (2555-T) and one for spouse 2555-S. Delete both . Also, try the following: Go to Federal Taxes. Go to Wages and Income. Scroll down to Less Common Income and click show more. Scroll down to Foreign Earned Income and Exclusion and click Revisit.

Dec 7, 2022 · Form 2555 only has space for entering one 12-month period, and then you figure out how many days in that period fall within the tax year. I've found a couple different answers in my research. One accounting firm says you submit a separate Form 2555 for each qualifying physical presence period, and you have to paper file:

Feb 25, 2023 · Form 2555 may have 2 forms, one for taxpayer (2555-T) and one for spouse 2555-S. Delete both . Also, try the following: Go to Federal Taxes. Go to Wages and Income. Scroll down to Less Common Income and click show more. Scroll down to Foreign Earned Income and Exclusion and click Revisit.