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Foreign earned income for US-based S-corp
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taxtipse
Level 1
06-07-2021
02:26 PM
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Form 1120-S (Foreign Transactions)
Can someone clarify what the difference is between "Gross income sourced at shareholder level" vs "Foreign gross income sourced at a corporate level"?
I have a client who is a single-owner S-corp who earned income in a foreign country (with taxes withheld). I'm a little confused on which fields to input on Line 14(a-r). Thanks in advance.
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