Completing Form 1040 with a 1099-Misc and a 2555?
My wife, an US citizen living abroad will be filling her tax as married filling separably using a Form 2555 for her Foreign Earned Income exclusion. She then put the total of Form 2555 line 45 in form 1040 line 21 in parentethis. Up to here it is business as usual, however this year she was awarded compensation for a lawsuit in the US and received a 1099-MISC form to declare on this year 1040.
Does the total amount on the 1099-MISC box 3 need to go on the 1040 live 21 as well? In the "Other income" section? If that the case do you "squeeze" in both the 2555 amount next to the 1099 amount or so you add one another and only put the total while referencing both forms next to the box? thank you |
Re: Completing Form 1040 with a 1099-Misc and a 2555?
Originally Posted by hisokajp
(Post 9212907)
My wife, an US citizen living abroad will be filling her tax as married filling separably using a Form 2555 for her Foreign Earned Income exclusion. She then put the total of Form 2555 line 45 in form 1040 line 21 in parentethis. Up to here it is business as usual, however this year she was awarded compensation for a lawsuit in the US and received a 1099-MISC form to declare on this year 1040.
Does the total amount on the 1099-MISC box 3 need to go on the 1040 live 21 as well? In the "Other income" section? If that the case do you "squeeze" in both the 2555 amount next to the 1099 amount or so you add one another and only put the total while referencing both forms next to the box? thank you http://www.irs.gov/pub/irs-pdf/p525.pdf |
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