Filing US taxes from Peru

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MJoyLaufer
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Filing US taxes from Peru

Postby MJoyLaufer » Tue Mar 06, 2018 9:37 pm

Hi all,

I'm not sure who else to go to on this question. I have a job here in Peru, and residency. I am filing a 1040 in the USA, and State through Massachusetts. I don't have W2s from my Peruvian job, it will appear as though I don't have income on my taxes. I looked up on the IRS website, and I qualified to fill out the 2555-EZ (exclude foreign income) to the 1040. Since I have a retirement account in the USA, and I have added to that account last year, they say I will have a penalty because my contribution to my account was higher than my income (since I can't list it on the 1040), although my income is indeed higher, it's just I can't list it on the form, but I don't want to leave the contribution off the form to avoid the penalty, if you know what I mean. Does anyone have any suggestions?

Thanks so much,
M


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gringolandia
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Re: Filing US taxes from Peru

Postby gringolandia » Wed Mar 07, 2018 10:14 am

You don't need a W-2 to declare income.

It sounds like the Foreign Income Exclusion will apply. You'll have to report the income but will not have to pay taxes on it because you presumably already paid tax in Peru.

My main suggestion is that you hire an accountant familiar with filing US taxes instead of trying to do it on your own.

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