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Form 2555 for schedule C filer
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Taxfun
Level 3
04-20-2020
05:17 PM
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A Self-employed Taxpayer qualifies for foreign earned income exclusions. However, a % of the schedule C income is sourced to USA based on the days he performed services in the USA. Unlike for wages, ITO software has drop down box that you can choose " allocate the income between US and Foreign" , schedule C doesn't have that option . Schedule C input sheet just allows you to enter the % of foreign income. I override the amount of "income earned in US on business o form2555 part II line 14". then I received a critical diagnostic which prevents me from efiling the tax return. It looks like that override doesn't affect the any numbers on the tax return. However, if I remove the override, the tax return doesn't reflect the correct information. I called the agents with ITO. They couldn't find a solution. Does any one have experiences on this issue?
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1 Comment 1
sjrcpa
Level 15
04-20-2020
05:53 PM
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Duplicate of https://proconnect.intuit.com/community/tax-talk/discussion/form-2555-for-schedule-c-filer/00/80223
The more I know, the more I don't know.
