How do I file taxes for income from foreign sources?

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April 2017
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If you are a U.S. citizen or a U.S. resident, you must report foreign source income on your U.S. income tax return. Foreign income is reported in the same way as other income, e.g., wages, interest, dividends, etc., on a 1040. You may avoid U.S. income tax on foreign source income if you qualify for the foreign earned income exclusion or the foreign tax credit. You must file IRS Form 2555 to qualify for the foreign earned income exclusion and Form 1116 to claim the foreign tax credit.

April 2007