Greetings,
I'm not so good with taxes, and really got myself stuck this time. I use TurboTax, and have been trying to figure out what I'm doing wrong.
Last year, my wife immigrated using the K-1 visa. She arrived 12/27, and we were married 12/31.
I think, what we're supposed to do is file jointly - and to do that, my understanding is that we need to claim her income as foreign income.
There are two places I can enter my wifes information. I can enter it under "Wages and Salaries" or "Less Common: Foriegn Earned Income" categories in TurboTax.
When I place it under "Wages", it reduces my refund to nothing (which doesn't seem right) - and when I place it under "Foreign Earned Income" it doubles my refund (which also doesn't seem right).
Reading the other threads I see something about claiming it but using a form "2555" to exclude it and a "1116" to claim foreign taxes... ??
I have no idea what this means. Is this something I can do in TurboTaxes, or is this something that I'm going to have to do outside of that system?
I want to pay everything I owe, but it does not seem correct to me that I need to pay taxes on what my wife earned in Canada for the 12 months she worked there just because of the 1 day that we were married and the 4ish days that she was a non-resident alien here.
Please help, I'm very confused!
Joint Filing Question: Assistance Please
Moderator: Mark T Serbinski CA CPA
After I gave up and posted, it seems I was able to find the forms 2555, and 1116 in the TurboTax system.
Since I have been reading the other posts (as to not waste all your time!):
1) I claim her income
2) Fill out these 2555 & 1116
3) Profit (or something)
If you have any input or see something I'm doing wrong though, please let me know.
(If you couldn't tell, I'm really bad at taxes!)
Since I have been reading the other posts (as to not waste all your time!):
1) I claim her income
2) Fill out these 2555 & 1116
3) Profit (or something)
If you have any input or see something I'm doing wrong though, please let me know.
(If you couldn't tell, I'm really bad at taxes!)
Your spouses wages are first and foremost WAGES, and musty be iuncluded on a joint 1040.
2555 is an additianl step, which then determines how much of the wages are to be excluded from tax.
They are 2 separate forms. 2555 is done AFTER initially completing 1040 with ALL world income and all deductions/ceridts etc, except for 2555 and 1116.
Similarly for 1116, on non-wages.
2555 is an additianl step, which then determines how much of the wages are to be excluded from tax.
They are 2 separate forms. 2555 is done AFTER initially completing 1040 with ALL world income and all deductions/ceridts etc, except for 2555 and 1116.
Similarly for 1116, on non-wages.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing 
[quote="nelsona"]Your spouses wages are first and foremost WAGES, and musty be iuncluded on a joint 1040.
2555 is an additianl step, which then determines how much of the wages are to be excluded from tax.
They are 2 separate forms. 2555 is done AFTER initially completing 1040 with ALL world income and all deductions/ceridts etc, except for 2555 and 1116.
Similarly for 1116, on non-wages.[/quote]
Sweet, thanks so much! =)
2555 is an additianl step, which then determines how much of the wages are to be excluded from tax.
They are 2 separate forms. 2555 is done AFTER initially completing 1040 with ALL world income and all deductions/ceridts etc, except for 2555 and 1116.
Similarly for 1116, on non-wages.[/quote]
Sweet, thanks so much! =)