Forms W-2 and 1099-R both require an employer identification number in order to e-file. When income is reported by a foreign employer on any other form, enter this information into TaxSlayer Pro as Foreign Employer Compensation (FEC).
To enter FEC, from the main menu of the tax return (Form 1040), select:
- Income Menu
- Wages, Salaries, Tips (W-2) or IRA/Pension Distributions (1099R, RRB-1099R)
- Foreign Employer Compensation - Select New
- The employer ID number is optional. The employer name and address are required.
- Enter the amount of foreign compensation, pension, and taxable pension in the spaces provided.
- When you have finished entering the FEC information, select Exit.
In the Foreign Earned Compensation Menu, for returns with a filing status of MFJ you will see a menu item labeled either Taxpayer's FEC Record or Spouse's FEC Record, indicating whose record this is for. If it's incorrect, select it to change the designation. For all other filing statuses, this line will indicate Taxpayer's FEC Record and is unchangeable.
Although there are two places under the income menu where FEC information can be entered, there is only one list showing all FEC records entered.
Note: This is a guide to entering Foreign Employer Compensation into the TaxSlayer Pro program. This is not intended as tax advice.