I have income from two sources: self-employment and foreign earned income.
My self-employment income is -$15,000 while my foreign earned income is $75,000. I'm taking the foreign earned income exclusion on $75k amount.
I'm wondering if foreign earned income that is excluded is calculated as part of net operating income. Is my net operating income a loss at -$15k that can be carried backwards/forwards to other years or is it a net positive income at $60k?
Best Answer Click here
This discussion has been locked. No new contributions can be made. You may start a new discussion here
$-15,000 is the NOL
$-15,000 is the NOL
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.