As a U.S. citizen or resident alien, you are required to report all income from all sources, both within and outside the U.S. This includes but is not limited to:
Earned Income: This includes wages, salaries, tips, and self-employment income.
Unearned Income: This includes interest, dividends, capital gains, pensions, rents, and royalties.
Foreign Income: If you reside outside the U.S., you must report all income from foreign sources unless it is exempt by U.S. law. This is true whether or not you receive a Form W-2 or Form 1099 from the foreign payer.
Other Income: This can include a variety of income, such as alimony, business income, rental income, unemployment compensation, social security benefits, and other miscellaneous income.
Note: If you qualify for the Foreign Earned Income Exclusion or Foreign Tax Credit, you still need to report all of your foreign income. The exclusions and credits are claimed as deductions on your tax return, but they do not exempt you from reporting your income.
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