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Foreign Income on 1099 BASIC

Level 1

Using ProSeries Basic and have a client that lived abroad for the entire year. Worked for a US company and received a 1099 but lived the entire year abroad. I have read at length on the IRS site and these forums but am simply looking for the best way to report this income in Basic. I understand Self Employment tax will need to be paid on this income. Just need to know how to make that happen. Thanks

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1 Comment 1
Level 15

You should be able to just report the income on Schedule C like any other business, then use Form 2555 to make use of the Foreign Income Exclusion.

In the event the taxpayer paid income tax or Social Security tax to the other country there may be other options, but I suspect that doesn't apply in your case.

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