Need help with taxes!

So I’m on turbo tax trying to file an extension and it says the deadline for filing an extension has passed. How am I suppose to extend it to exclude my foreign income?

The extension date is anytime up to 15 June 2019.  File on paper if needed.

The wages you earned in the UK in 2018 are taxable on your IRS return but you can exclude them using form 2555, however you can’t use form 2555 to exclude your wages until you have been out of the country for 330 days, so if this is an issue then you will need to file an extension.

When our son moved back at the end of September 2017 he started work after about 6 weeks so when time came to file for 2017 he filed for an extension to October 15th 2018 and then filed end of September. He used TurboTax.

So I’m trying to file an extension on Turbo Tax and it won’t let me put a foreign address, just an American one. I have my mom’s address but shouldn’t I put my U.K. one?

It is just this first year that you will need to file an extension in order to be able to exclude your UK earnings, after that the automatic extension to June 15 for overseas filers is enough. It is just one of those rules that to exclude foreign wages from US taxes you have to have been out of the country for at least 330 days.

I just want to make sure I’m 100% on this...
So I should file extension form 4868 so I can file my taxes after I’ve been here 330 days to exclude my foreign tax. ?

I just want to make sure I’m 100% on this...
So I should file extension form 4868 so I can file my taxes after I’ve been here 330 days to exclude my foreign tax. ?

- electing to claim the foreign earned income exclusion may not produce the optimum result. You’ll always want to optimise the results based on your personal circumstances.

- electing to claim the foreign earned income exclusion may not produce the optimum result. You’ll always want to optimise the results based on your personal circumstances.

Well I’ve been working in the U.K. and I’ve been reading about how you can exclude your income from US tax if you make like less than £80k a year, and I definitely don’t make that

Not sure what the problem is, myself and my son both use TurboTax and it lets us put our UK address down as our residence when filing. I can’t recall about filing for an extension as that was my son had to do that.

Not sure what the problem is, myself and my son both use TurboTax and it lets us put our UK address down as our residence when filing. I can’t recall about filing for an extension as that was my son had to do that.

The only reason I need to file an extension would be to exclude my U.K. income, if I don’t file an extension can I just file my taxes before June 15? Also if I don’t wait for the 330 days does that mean I have to include my U.K. income on my taxes?

The only reason I need to file an extension would be to exclude my U.K. income, if I don’t file an extension can I just file my taxes before June 15? Also if I don’t wait for the 330 days does that mean I have to include my U.K. income on my taxes?

When I helped my son do his taxes we mailed in a paper copy of 4868 to extend until October 15.

since you are having difficulty filing this electronically or getting TurboTax to put your overseas address in the fields then I would print it out the directly from the irs site, complete it and mail it in.

https://www.irs.gov/pub/irs-pdf/f4868.pdf

If you have not been out of the country 330 days then you will have to pay taxes on your UK wages I believe.

When I helped my son do his taxes we mailed in a paper copy of 4868 to extend until October 15.

since you are having difficulty filing this electronically or getting TurboTax to put your overseas address in the fields then I would print it out the directly from the irs site, complete it and mail it in.

https://www.irs.gov/pub/irs-pdf/f4868.pdf

If you have not been out of the country 330 days then you will have to pay taxes on your UK wages I believe.

So without filing an extension am I able to file before June 15? And does that mean I have to include my foreign income?

And Even though I don’t make £80k+ a year, I can’t exclude my income?

So without filing an extension am I able to file before June 15? And does that mean I have to include my foreign income?

And Even though I don’t make £80k+ a year, I can’t exclude my income?

I really only know what TurboTax tells me, which is that you can exclude your earned income as you say, but you have to be out of the country for 330 days otherwise you cannot file form 2555 to exclude those wages. TurboTax would not let my son file before then, so he printed out form 4868, filled it in and sent it off. It was very easy, and then he e-filed after he had been here 365 days.

Maybe a tax pro will come along and tell you different.

I really only know what TurboTax tells me, which is that you can exclude your earned income as you say, but you have to be out of the country for 330 days otherwise you cannot file form 2555 to exclude those wages. TurboTax would not let my son file before then, so he printed out form 4868, filled it in and sent it off. It was very easy, and then he e-filed after he had been here 365 days.

Maybe a tax pro will come along and tell you different.

Okay yea I think I’m gonna do that because it seems like the simplest.

Also with the FBAR at one point me and my husband had £7745.22 in our joint bank account. I saw on the IRS website for their yearly average currency exchange rates for 2018 was 0.750. So how do I do the math to figure out if I need to file an FBAR?

Okay yea I think I’m gonna do that because it seems like the simplest.

Also with the FBAR at one point me and my husband had £7745.22 in our joint bank account. I saw on the IRS website for their yearly average currency exchange rates for 2018 was 0.750. So how do I do the math to figure out if I need to file an FBAR?

For the FBAR you use the rate as of Dec 31st, which is different to the IRS average rate that you can use for reporting foreign income on your return.
https://www.fiscal.treasury.gov/reports-statements/treasury-reporting-rates-exchange/current.html

For 2018 it is 0.781 which means divide £s to get to $s. £7745 = $9917
If £7,745 is the sum of the highest balance of all your UK accounts then you are below the $10k threshold and don’t need to file FBAR

Also, don't forget that you likely need to qualify for the health coverage exemption for part of 2018 and file Form 8965. That is yet another reason to delay filing until June or later. See https://www.irs.gov/pub/irs-pdf/i8965.pdf.

Do I need to still file this even though I was under my mom’s health insurance?

If needed, a US income tax return for 2018 is due to be filed by 17 June 2019; but can easily be extended until 16 December 2019 if necessary by filing an IRS Form 4868 by 17 June - followed by writing a letter to the IRS by 15 October 2019.  An FBAR for 2018 must, however, if needed be filed with the US Treasury by 15 October 2019.

Why would I need to write a letter to the IRS by 15 October?