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mferrari
May 18, 2006, 07:41 AM
I am working in US with H1B visa, and filing tax return on my US income. How should I treat second income from outside US in tax return? Thanks a lot.:confused:
AtlantaTaxExpert
May 18, 2006, 05:02 PM
I assume you have been on the H-1B visa for all of 2005.

If so, you must declare the out-of-U.S. income and pay taxes on it. Now, you can claim the Foreign Income Exclusion (Form 2555) or Foreign Tax Credit (Form 1116) if you meet the conditions.
mferrari
May 22, 2006, 12:10 PM
thanks a lot...
AtlantaTaxExpert
May 22, 2006, 07:22 PM
Glad to help!