Korean Job Discussion Forums

[cellphone]

For USA, as I'm from there.

Worked in Korea all of 2004 (came over late 2003). Haven't even bothered doing income taxes yet... Figured I would now though...

Should I claim $0 on the 1090 form since I'm out of country, or put the full dollar amount made overseas? They'd then tax me as though I was in country, no?

Any simple answer to it all? Thanks.

[dulouz]

You live USA tax free over here but you still need to file. You can also make voluntary contributions to Soc Sec if you choose.

[krats1976]

There's a lot of good info on this thread:

http://www.eslcafe.com/forums/korea/viewtopic.php?t=36177&highlight=Turbotax

[cellphone]

thanks! will look through..

[cubanlord]

I'm from the USA and I did file this year. You claim the same as if you would claim back at home. However, you will use the "foreign Tax Excemption form" that you can get from the Internet. You will not have to pay taxes on what you earn for, IIRC, 5 or 7 years (one or the other). Trust me when I say it is much easier to get this out of the way than to wait and try and prove your income. Down the road if you get audited....ouch....

[Intrepid]

I just did this today, so it's timely.
The IRS website really makes it easy. You need the 1040 EZ, the 2555 EZ, and the earnings statement from your employer. For that, anything will do, even if it's in Korean--I usually "interpret" it for them in a letter.
If you've made under $80K, you're fine. Fill out the 2555 first--it documents the length of your stay out of the US, and gives you your deduction. When you get to line 21 on the 1040, you enter the deduction, which should be your whole income.
Sign and send it off. You're late, but the penalty is a percentage of the tax you owe, so it will be nothing. I always check the "contribute $3 to presidential election fund" boxes, just for fun.

[different]

[Njord]

If your employer provides you with an apartment, how do you list this? Or do you even have to? Should I ask my employer how much it costs or just guess?