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TaxRobin
TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 15184
Experience:  15+ years in tax preparation and instruction
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My foreign salary was taxed by the (Tanzanian) government

Customer Question

My foreign salary was taxed by the (Tanzanian) government there and I have transferred savings from that to my U.S. bank account. Must I pay tax on that money? Can I put it into an After-tax annuity?
I was a teacher there.
Thanks for a reply.
Don Lotter ***@******.***
Submitted: 1 year ago.
Category: Social Security
Expert:  TaxRobin replied 1 year ago.

Hello

If you are a US citizen or resident alien then you have to report ALL your worldwide income. You may be allowed to either use the Foreign Earned Income Exclusion or the Foreign Tax Credit so you are not taxed twice.

A U.S. citizen or a U.S. resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months can exclude income on form 2555.

If you cannot meet the exclusion then you can use the Foreign Tax Credit on form 1116.

Please remember to rate my service once you have all the information you need. If you have any other questions, please ask me – I’ll be happy to respond. Thank you!

Expert:  TaxRobin replied 1 year ago.

Hello

If you are a US citizen or resident alien then you have to report ALL your worldwide income. You may be allowed to either use the Foreign Earned Income Exclusion or the Foreign Tax Credit so you are not taxed twice.

A U.S. citizen or a U.S. resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months can exclude income on form 2555.

If you cannot meet the exclusion then you can use the Foreign Tax Credit on form 1116.

Please remember to rate my service once you have all the information you need. If you have any other questions, please ask me – I’ll be happy to respond. Thank you!

Expert:  TaxRobin replied 1 year ago.

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