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Which tax forms to fill to report foreign income

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  • Which tax forms to fill to report foreign income

    Hi,

    I'm struggling with the US tax forms. I've submitted for Green Card, so I need to fill a 1040. I have US income (<20k) as well as foreign income(<100k). I've a positive physical presence test for the US. I have already paid income tax in the foreign country for the foreign income and that is covered by a tax treaty with the US.

    So the income is generated abroad, but I'm living in the US.

    I've figured that I need to fill a 1040, because I have family and dependants.

    In Line 21, Other Income I should report my foreign income.

    How do I explain that I want to exclude this income, because it has already been taxed under a tax treaty?

    Thanks

  • #2
    Your tax return could be somewhat complicated, so I would see an accountant.

    Comment


    • #3
      Spencer,

      This is a relatively simple problem and doesn't need a professional tax preparer. In my experience, most tax preparers, even CPA's, have minimal, if any experience with handling foreign income.

      Report your foreign income as "other income" on your form 1040.

      Report foreign taxes on Schedule A to reduce your taxable income.

      --Ray B

      Originally posted by hellospencer View Post
      Hi,

      I'm struggling with the US tax forms. I've submitted for Green Card, so I need to fill a 1040. I have US income (<20k) as well as foreign income(<100k). I've a positive physical presence test for the US. I have already paid income tax in the foreign country for the foreign income and that is covered by a tax treaty with the US.

      So the income is generated abroad, but I'm living in the US.

      I've figured that I need to fill a 1040, because I have family and dependants.

      In Line 21, Other Income I should report my foreign income.

      How do I explain that I want to exclude this income, because it has already been taxed under a tax treaty?

      Thanks

      Comment

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