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    mferrari's Avatar
    mferrari Posts: 2, Reputation: 1
    New Member
    		  
    #1

    May 18, 2006, 07:41 AM
    Foreign income as H1B holder in US
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    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's Avatar
    mferrari Posts: 2, Reputation: 1
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    #3

    May 22, 2006, 12:10 PM
    Thanks a lot...
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    May 22, 2006, 07:22 PM
    Glad to help!
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