General Discussion

Hassin Bin Sober

(27,494 posts)

65. Non fatcats can exempt all their income up to $97k and use Turbo Tax.

Mon Dec 2, 2013, 04:04 PM

Dec 2013

What is your beef again?

Entering Form 2555 in TurboTax

Form 2555 can be one of the most complex forms to complete when preparing your return, but don't worry! When you use TurboTax to prepare your taxes, we’ll ask you questions about your foreign earned income, figure out how much you can exclude, and fill in all the right forms for you.

If you've already gone through the step-by-step interview and want to jump directly to the entry screen for Form 2555, follow these directions:
1.Select Federal Taxes (Personal in the Home & Business edition).
In Online TurboTax, click the bars at the upper left corner to show Federal Taxes on the selection list; enlarge the screen if needed to show the left side selection list.
2.Select Wages & Income, and in the new screen, click Explore on My Own.
3.Scroll down the Your Income Summary screen until you see the Less Common Income group.
4.Click on the Start/Update button next to the Foreign Earned Income and Exclusions category.
5.Follow the prompts.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

169 replies

= new reply since forum marked as read

Highlight:

Warning! USA invading Canada and other countries. be aware if you are an US person living abroad. [View all] riverbendviewgal Dec 2013 OP

Germany is now considering citizen based taxation for its citizens riverbendviewgal Dec 2013 #1

Does FACTA include "corporate persons"? Will we finally get to learn where all our money went? NYC_SKP Dec 2013 #2

NO riverbendviewgal Dec 2013 #4

Then it most definitely is bullshit. Fucking typical. nt NYC_SKP Dec 2013 #5

It is easier to catch minnows than big fish riverbendviewgal Dec 2013 #7

What do you mean "grab some low to middle class dual citizen's pension"? Hassin Bin Sober Dec 2013 #78

In order to qualify for the foreign earned income exclusion, Art_from_Ark Dec 2013 #83

That sounds fair, no? Hassin Bin Sober Dec 2013 #84

If an overseas American has income from the US, Art_from_Ark Dec 2013 #86

You got socked with a big Japanese tax bill? What does that matter in this discussion? Hassin Bin Sober Dec 2013 #92

No US tax bill Art_from_Ark Dec 2013 #95

Do you think US citizens should be able to avoid taxes pnwmom Dec 2013 #72

No, I only want the law applied uniformly. nt NYC_SKP Dec 2013 #73

Well then giving HUGE breaks to high income and net worth people ... Hassin Bin Sober Dec 2013 #77

I think US citizens shouldn't be liable for US taxes on non-US income if they're not US residents Spider Jerusalem Dec 2013 #94

Yes NoOneMan Dec 2013 #104

Not true Sgent Dec 2013 #87

true riverbendviewgal Dec 2013 #88

More..... MADem Dec 2013 #3

Sadly you can hear the interviews on the audio riverbendviewgal Dec 2013 #6

It isn't a video file--it's an audio one, and it works fine. MADem Dec 2013 #8

I heard it already the day it was broadcast riverbendviewgal Dec 2013 #9

I think the Canadian government approves of this, otherwise they wouldn't allow it to happen. MADem Dec 2013 #12

You guessed right. riverbendviewgal Dec 2013 #14

US citizens and green card holders owe US taxes pnwmom Dec 2013 #10

THese people are dual citizens riverbendviewgal Dec 2013 #11

Then they can make a choice. If they want the benefits of US citizenry, they can pay the taxes. nt msanthrope Dec 2013 #13

What benefits? riverbendviewgal Dec 2013 #15

If they can see no benefit, they can relinquish. If it is as bad as you describe, they msanthrope Dec 2013 #16

THey are riverbendviewgal Dec 2013 #18

Good. When we've lost all our Ambassadors, you let me know. nt msanthrope Dec 2013 #19

I will and riverbendviewgal Dec 2013 #21

On another thread, you revealed that you are getting your info on this issue from Glenn Beck. msanthrope Dec 2013 #24

I don't think you read the other thread well riverbendviewgal Dec 2013 #28

I provided you the link. Did you not realize you are using Glenn Beck's news organization? msanthrope Dec 2013 #29

No I did not riverbendviewgal Dec 2013 #34

Your source is a nobody libertarian who identifies himself as a blow-hard. pnwmom Dec 2013 #80

If they get no benefits then they should relinquish. Hassin Bin Sober Dec 2013 #30

They are renouncing in droves riverbendviewgal Dec 2013 #37

Let me explain about living overseas Art_from_Ark Dec 2013 #85

You are not telling me anything I don't know. Hassin Bin Sober Dec 2013 #91

I didn't pay any US income tax Art_from_Ark Dec 2013 #96

Ok. Hassin Bin Sober Dec 2013 #97

No, it didn't Art_from_Ark Dec 2013 #98

The OP posted some right wing clap trap about how it costs $3000 dollars to file ... Hassin Bin Sober Dec 2013 #99

I will admit Art_from_Ark Dec 2013 #100

She specifically says that is ALL prep fees and never paid the tax. Hassin Bin Sober Dec 2013 #101

If that's the case, and she's not confused, Art_from_Ark Dec 2013 #102

So you fully endorse this pain in the ass? NoOneMan Dec 2013 #105

delete dupe FourScore Dec 2013 #118

LOL! Great argument about the state taxes because it's true. FourScore Dec 2013 #124

LOL. States don't eqal countries. Nice try. Hassin Bin Sober Dec 2013 #133

The distinction is somewhat arbitrary. States are income tax zones based on residency NoOneMan Dec 2013 #141

What's that situation again? That high earners might have to pay a little US taxes on the income.. Hassin Bin Sober Dec 2013 #143

Who cares if its a little, a lot or a pain in the ass time wasting bureaucracy you ultimately fund NoOneMan Dec 2013 #144

How can they afford to do it? Glassunion Dec 2013 #22

FATCA was passed in 2010. Whoever falls under this had fair warning. I mean....if you msanthrope Dec 2013 #23

Senator Levin wants those who renounce and relinquish riverbendviewgal Dec 2013 #40

He's right..and if I were you, I'd stop using Glen Beck as a news source. nt msanthrope Dec 2013 #61

Thank you for the advice riverbendviewgal Dec 2013 #62

THis lady is not a glen beck follower riverbendviewgal Dec 2013 #64

Your Glenn Beck attack is pretty low. I thought you were better than that. n/t FourScore Dec 2013 #119

The poster used Glen Beck's news organization for her 'facts.' Take msanthrope Dec 2013 #132

You are so correct. riverbendviewgal Dec 2013 #38

The USA is one of two countries in the world that taxes on the basis of citizenship... Spider Jerusalem Dec 2013 #20

I completely agree with you. nt City Lights Dec 2013 #25

Good. I think it's a great system. nt msanthrope Dec 2013 #31

I take it you've never lived abroad, then. Spider Jerusalem Dec 2013 #33

You have a great point riverbendviewgal Dec 2013 #42

Lived in Belgium for over a year, with extensive travel through Europe, msanthrope Dec 2013 #112

Did you live on US dollars or did you actually WORK and JOIN in their society and economy? FourScore Dec 2013 #115

Given that most of my time in Africa was spent documenting refugee flight, msanthrope Dec 2013 #128

I work in the film industry. We come from different perspectives. And BTW, FourScore Dec 2013 #130

Jeebus christ...go sit sometime in a cinema in Belgium, and when the multiple msanthrope Dec 2013 #131

Its can be improved. All US citizens should file state returns for life of any state they lived in NoOneMan Dec 2013 #106

How would you propose we make things fair when these folks exercise their right to come home... Hassin Bin Sober Dec 2013 #35

this is a totally nonsensical non sequitur Spider Jerusalem Dec 2013 #39

What if they return to live permanently after, say, 10 or 20 years? Hassin Bin Sober Dec 2013 #41

No, they didn't live there so why should they be back charged? riverbendviewgal Dec 2013 #45

I suppose they will agree to never get sick and need disability, SSI, Medicaid . Hassin Bin Sober Dec 2013 #55

You got it wrong riverbendviewgal Dec 2013 #58

Maybe solarhydrocan Dec 2013 #89

Green for victory!!... SidDithers Dec 2013 #138

Anyone who lives in any other developed country and gets sick, etc... Spider Jerusalem Dec 2013 #60

This lady lived in Canada and riverbendviewgal Dec 2013 #66

Oh please, I got to the part where the little old lady disabled pensioner never paid a dime .. Hassin Bin Sober Dec 2013 #69

No, then they pay taxes as resident citizens. Spider Jerusalem Dec 2013 #51

Yeah, Eritrea ain't the world policeman. We got bills to pay. Hassin Bin Sober Dec 2013 #74

So, which is it? Spider Jerusalem Dec 2013 #75

Like the old toast goes: Hassin Bin Sober Dec 2013 #76

"ain't a bad shake" NoOneMan Dec 2013 #108

Then relinquish your citizenship and be done with it. Hassin Bin Sober Dec 2013 #134

A few reasons... NoOneMan Dec 2013 #142

"get him and his buddies to pay for your fuckn roads" Hassin Bin Sober Dec 2013 #145

"a few higher income crybabies chip in a few bucks" NoOneMan Dec 2013 #146

Nah. We'll just send you a bill. LOL Hassin Bin Sober Dec 2013 #147

And there it is. NoOneMan Dec 2013 #148

I suppose voting isn't one of the rights you choose to retain and exercise? Hassin Bin Sober Dec 2013 #149

So we're doing all this to fund counting expats ballots? NoOneMan Dec 2013 #150

Nah, just wondering how much responsibilty you take for "my" failed state. Hassin Bin Sober Dec 2013 #152

Zero NoOneMan Dec 2013 #153

I figured as much. Pay up or relinquish. Hassin Bin Sober Dec 2013 #154

Pay your own bills! NoOneMan Dec 2013 #155

I pay my bills. And your parents and your kids, apparently. Hassin Bin Sober Dec 2013 #157

My parents live in the states and pay their own bills NoOneMan Dec 2013 #158

spoken like a true RWer... dionysus Dec 2013 #164

A right winger wouldn't be happy paying a much higher tax rate for universal health care... NoOneMan Dec 2013 #165

then renounce already. dionysus Dec 2013 #166

Mmmmm, yeah NoOneMan Dec 2013 #167

you're right, i don't give a fuck about ones who tax dodgers. now avoid your taxes at all costs. dionysus Dec 2013 #168

As a resident of a civilized country, I pay more tax than you. I do so gladly. NoOneMan Dec 2013 #169

The point is they will not exercise that right riverbendviewgal Dec 2013 #43

Then relinquish the citisenship and be done with it. Hassin Bin Sober Dec 2013 #151

The same way the rest of the world does it NoOneMan Dec 2013 #107

They're tax evaders if they're US citizens/green card holders and pnwmom Dec 2013 #71

Here is comments on blog from New Zealand riverbendviewgal Dec 2013 #17

I am so sorry. There is something really weird going on here in the US. We are no longer a liberal_at_heart Dec 2013 #26

Read this essay riverbendviewgal Dec 2013 #27

Here's a clue for the New Zealnd couple: Hassin Bin Sober Dec 2013 #48

They don't want a social Security number for their daughter riverbendviewgal Dec 2013 #52

I'm gonna go ahead and call bullshit, mmkay? Hassin Bin Sober Dec 2013 #63

You love to call bullshit on arguments that don't fit into your world view. Hmm...where did I read FourScore Dec 2013 #116

You are the one posting made up anti-tax teabagger fables. Hassin Bin Sober Dec 2013 #137

Huh? What are you talking about? What testimony? n/t FourScore Dec 2013 #163

The child of one US citizen parent born abroad is considered a US citizen by the US government. Spider Jerusalem Dec 2013 #57

Billionaires thank you for your efforts to protect their tax havens. (nt) jeff47 Dec 2013 #32

You are so wrong riverbendviewgal Dec 2013 #36

Yeah, that's why two major tax havens just agreed to this law. jeff47 Dec 2013 #47

They must have agreed to do it treestar Dec 2013 #44

read this and the bold letters on the end. riverbendviewgal Dec 2013 #46

FATCA written by FATCATS seveneyes Dec 2013 #49

very true. riverbendviewgal Dec 2013 #53

Non fatcats can exempt all their income up to $97k and use Turbo Tax. Hassin Bin Sober Dec 2013 #65

No that is not true riverbendviewgal Dec 2013 #67

Here, let me look it up for you. Hassin Bin Sober Dec 2013 #68

I think there is more to it than jealousy, riverbendviewgal. FourScore Dec 2013 #125

The very purpose of these laws is to tax off shore millionaires and their hidden assets. Hassin Bin Sober Dec 2013 #135

Its about time we took their Beer wells for our own!!! JoePhilly Dec 2013 #50

That is the intention riverbendviewgal Dec 2013 #54

I'm too afraid that the NSA would see me watch it and then JoePhilly Dec 2013 #56

???????????? riverbendviewgal Dec 2013 #59

I agree with one thing DonCoquixote Dec 2013 #70

I believe Ted Cruz never paid Canadian taxes riverbendviewgal Dec 2013 #79

No bankruptcies from medical bills - only partially true OnlinePoker Dec 2013 #81

Can I tell you something riverbendviewgal Dec 2013 #82

Oh riverbendviewgal! What an unbelievable story! FourScore Dec 2013 #126

FourScore riverbendviewgal Dec 2013 #159

My dear, dear riverbendviewgal, FourScore Dec 2013 #162

replies DonCoquixote Dec 2013 #90

Resident based taxation riverbendviewgal Dec 2013 #93

the times they are a changin DonCoquixote Dec 2013 #103

Interesting way to put it. RAFREE Dec 2013 #140

Whenever this subject comes up--even on the most liberal sites--the grouchy get-off-my-porchers show NoOneMan Dec 2013 #109

Just the FACTS as far as I have seen them here. RAFREE Dec 2013 #110

Border babies laundry_queen Dec 2013 #111

Sorry to say RAFREE Dec 2013 #113

Most Democrats in Congress supported this law. Most Republicans in Congress opposed it Freddie Stubbs Dec 2013 #114

Too bad RAFREE Dec 2013 #117

This is by far the best and most reasoned response in this entire thread. FourScore Dec 2013 #120

Thank you for seeing the message. riverbendviewgal Dec 2013 #122

Welcome to DU. RAFREE riverbendviewgal Dec 2013 #121

Thanks RAFREE Dec 2013 #123

YES!! Welcome (or welcome back) to DU! FourScore Dec 2013 #127

I'm trying to figure out what your beef is with the law. Hassin Bin Sober Dec 2013 #136

It's difficult if RAFREE Dec 2013 #156

I'm a British Citizen and US green card holder Boudica the Lyoness Dec 2013 #129

Green card holder RAFREE Dec 2013 #139

Thanks for all this info and posting about this. Boudica the Lyoness Dec 2013 #160

You very welcome. RAFREE Dec 2013 #161