Turbotax for expats

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Is turbo tax premier the right version for expat working. What qualifies for the foreign tax credit? Once you’ve been overseas for an extended time—usually at least half a year, Wilson said—you become subject to taxes in your country of residence.

Easily file federal and state income tax returns with 1 accuracy to get your maximum tax refund guaranteed. The following posts have some overlap but together they cover how to report foreign income, exclude foreign income from U. Some of these notes are particular to my personal situation so may not apply generally. Disclaimer: I am neither a tax attorney nor an accountant. However, if you are self-employe you automatically will need to use the $119. I wish I had used Taxes for Expats previously as it would have saved me from a very negative experience with the other company (a lot of confusion, having to correct basic errors in forms and waiting about for days for to questions).

You would be able to take a Foreign Tax Credit for taxes paid in Canada on Canadian income that is also taxed in the US. The Internal Revenue Service has no official exchange rate. Prevent new tax liens from being imposed on you. Maximum Refund Guaranteed. So i am contracting for a company and living abroad.

I can either have the funds placed in my foreign bank account in the local currency or into my US bank account in $. This outside corporation is o. While slightly lower cost than some of the products above (max cost of about US$85), TaxSlayer is an online-only product. There is a subset of US expats for whom TaxSlayer is a good option: People without foreign mutual funds or ETFs. In that space, TaxSlayer competes head-to-head with. TurboTax will not compute this for you.

Moved your post out into a thread of its own so that maybe we can find someone familiar with Turbo Tax to help out. IRS, Expat Tax Professionals is here to help. This year, though, it got out of hand.

Rather than mess with our expat taxes myself, I decided to hand the whole mess off to a professional. Expat Tax This forum is for tax related queries and discussions for all expats. CPAs for Expats does U. United States or abroad. File Us Income Tax, FBARS or IRS Streamlined Amnesty Program.

Our low flat-rate pricing and years of experience will make complying with complicated U. Get Your Questions About How Do Your Taxes Answered.