International tax · every year

Foreign income on your US tax return without double taxation

US residents report income from all over the world: wages, rent, interest and real estate sales in Russia and other countries. We report this income correctly and claim credit for tax already paid abroad.

What our foreign income service includes

Every income source

Wages, rent, interest, dividends and property sales abroad — on the right lines of your return.

Foreign tax credit

We credit tax paid in another country on Form 1116 so you are not taxed twice.

Dollar conversion

We convert income and expenses to dollars at rates the IRS accepts.

Related reports

We check whether you need FBAR, Form 8938 or Form 3520 and prepare them with your return.

Why foreign income can't be left off

A US resident is taxed on worldwide income. Unreported foreign income is a common reason for IRS letters and extra tax.

Double tax can be avoided

Tax paid in Russia or another country can often reduce your US tax through the foreign tax credit.

A property sale is income too

When you sell real estate abroad, the US taxes the gain in dollars, using the purchase price at the exchange rate of that time.

Treaties change

In 2024 Russia suspended part of its tax treaty with the US. We'll go over how this affects your case in a consultation.

Account reports are required

Proceeds from a sale or rent held in a foreign account almost always mean you must file FBAR.

Foreign income pricing

income exclusion

$150

Form 2555 — if you lived abroad most of the year

foreign tax credit

$170

Form 1116 — tax paid in another country

foreign gifts and inheritance

$270

Form 3520 — over $100,000 from foreign persons

Rental property (Schedule E) — $150 per property; sale of rental property — $200. The Form 1040 itself is at list price, from $200. See all prices → · Get an estimate in 3 minutes →

What to prepare

Statements of foreign income (wages, rent, interest)

Proof of tax paid in the other country

Purchase and sale contracts, if you sold property

A list of foreign accounts for FBAR

Foreign income FAQ

Do I report income from Russia if I am a US resident?

Yes. A US resident reports worldwide income, and tax paid in another country can often be credited.

I sold an apartment in Russia. What do I owe in the US?

The US taxes the gain: the difference between the sale and purchase price in dollars at the exchange rates on the transaction dates. If it was your main home, an exclusion may apply. We review it in a consultation.

What's the difference between Form 1116 and Form 2555?

Form 1116 credits tax paid abroad. Form 2555 excludes wages from tax, but only if you lived outside the US for most of the year.

Do I report money my parents gave me from abroad?

A gift from a foreign person isn't taxable, but if the total for the year exceeds $100,000, you file Form 3520.

Let’s start with a free 15-minute interview

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