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Level 3
April 15, 2022
Question

Foreign Income exclusion for Puerto Rico

  • April 15, 2022
  • 1 reply
  • 7 views

Client is US citizen, lives in New York

Has W-2 income from a  NY company

Also had income of $80k from a Puerto Rican company and paid $18k in taxes.

How do I report this in Proseries Basic?

Thanks for your response!

 

This topic has been closed for replies.

1 reply

dkh
Level 15
April 15, 2022

Yes, income from Puerto Rico must be included on tax return.  As to where to report depends .... was it business income, property sale, etc

 

https://www.irs.gov/taxtopics/tc901      4th paragraph

MinvestAuthor
Level 3
April 15, 2022

Thanks!