Get the free form 8958

Information about Form 8958 and its instructions is at www.irs.gov/form8958. ... For more information, see Pub. 555 ...

How to fill out form 8958

How to fill out Form 8958:

1. Start by providing your personal information, such as your name, address, and Social Security number. Ensure that all the details are accurate and up to date.
2. Indicate your filing status by selecting the appropriate option, such as single, married filing jointly, married filing separately, or head of household. Choose the option that best reflects your situation.
3. Report your foreign earned income and any housing exclusions or deductions, if applicable. Include all the necessary details regarding your income earned outside of the United States.
4. Provide the total number of days you were present in each foreign country throughout the tax year. This information is crucial for calculating the Foreign Earned Income Exclusion limit.
5. If you are claiming the Foreign Tax Credit, provide details about any foreign taxes paid or accrued during the tax year. This credit helps to offset the taxes you may owe to the United States.
6. Review all the information you have entered on Form 8958 to ensure accuracy and completeness. Double-check any calculations or figures to avoid errors.
7. Sign and date the form to certify that the information provided is true and accurate to the best of your knowledge.
8. Attach Form 8958 to your income tax return for the tax year in which you are claiming the foreign earned income or housing exclusions.
9. Keep a copy of the filled-out Form 8958 for your records.

Who needs Form 8958:

1. U.S. citizens or resident aliens who have earned income from sources outside the United States may need to fill out Form 8958.
2. Individuals who qualify for the Foreign Earned Income Exclusion or the Foreign Housing Exclusion or Deduction will typically need to submit this form.
3. If you are claiming the Foreign Tax Credit to offset taxes paid to a foreign government, you may have to include Form 8958 with your tax return.
4. It is essential to consult with a tax professional or refer to IRS guidelines to determine if you are required to fill out Form 8958 based on your specific circumstances.

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