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Income – Other Income, Form 1040, Line 21
This lesson covers how to identify and report income sources that do not have their own line on Form 1040. Types of income that do not have their own line on Form 1040 are reported on line 21.
The International part of this lesson will help you report income earned from worldwide sources. In addition to worldwide sources, this lesson addresses the foreign earned income exclusion reported on Form 2555 or Form 2555-EZ.
Click the Skills Workout button to learn more about reporting other income and applying the rules for foreign income exclusion.