GERRY7
Level 1
09-23-2022
01:33 PM
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I have a new client who works for The World Bank Group. He says that they do not get a W2. He only sent me a statement from the bank showing the gross income and estimates of FICA and medi-care taxes. The foreign entity pays them the money to cover their taxes and they have to take care of it. Do I enter his gross income in Schedule SE directly? OR on Schedule 1- other income?
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GERRY7
Level 1
09-24-2022
11:46 AM
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He is a citizen
sjrcpa
Level 15
09-24-2022
12:41 PM
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It's wages. Report on the wage line. Your software probably has a box to indicate foreign employer.
Taxpayer has to pay SE tax on the compensation. Your software should have a way to enter this on Schedule SE.
The more I know the more I don’t know.
BobKamman
Level 15
09-24-2022
01:18 PM
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GERRY7
Level 1
09-24-2022
01:39 PM
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Thanks