Tax Help

Struggling to file my taxes. I have my income for the year. Do I just do a 1040 with schedule 6, then a foreign income exclusion 2555-EZ, and a 8965 for the healthcare exemption. I’m struggling with how to fill out the 1040. What line do I put my foreign earned income on? This seems very different than last year.

Struggling to file my taxes. I have my income for the year. Do I just do a 1040 with schedule 6, then a foreign income exclusion 2555-EZ, and a 8965 for the healthcare exemption. I’m struggling with how to fill out the 1040. What line do I put my foreign earned income on? This seems very different than last year.

Form 2555 requires Schedule 1 also. A foreign (UK) bank account requires Schedule B, especially Part III.

Foreign income exclusion begins on form 2555 (EZ), the result is carried to Schedule 1, line 21, then to 1040, line 6 (in the blank space within line 6, then reduce for taxable income).

1040, Schedule 6, and 8965 are correct. FBAR? 8938?

All the schedules are what had confused the heck out of me. I don’t need to do FBAR, never had 10,000 in any bank account in the US or UK (thanks student loans, whose interest I can’t deduct because I do married filing separately).

I have no UK assets, just a current account so I don’t think 8938 applies to me. 

So I just need to do schedule 1, and schedule B and I will get my magic formula? I know I don’t owe anything as I have only made  just over $26,000 in the past year. I do married filing separately. No assets or other income or dependents.

Also, thank you. You are a lifesaver.

Form 2555 requires Schedule 1 also. A foreign (UK) bank account requires Schedule B, especially Part III.

Foreign income exclusion begins on form 2555 (EZ), the result is carried to Schedule 1, line 21, then to 1040, line 6 (in the blank space within line 6, then reduce for taxable income).

1040, Schedule 6, and 8965 are correct. FBAR? 8938?

I know this post is older but I'm having trouble understanding 2555 (EZ), Schedule 1 line 21, and 1040 line 6.

I was self-employed from Jan 2018 to May 2018 in the US.  I have added my business income to schedule 1 line 12.  I have put the result from 2555(EZ) onto Schedule 1 line 21 for the income I earned in the UK.  I am confused as to how these 2 figures interact for line 22. 

Do I only report my business income on line 22, as the result from 2555(EZ) was excluded income on line 21?  Or do I add my line 12 and line 21 as the result for line 22?  I'm confused by the instructions.

I had a loss on line 13 and income on line 21 of the Schedule I;  I added the two together for line 22 which in my case produced a negative number to carry forward to line 6 of the 1040.