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Take the Fgn Eearned Income Exclusion or the Foreign Tax Credit

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Level 3

Quick Question. My client is filing MFJ, lives and works overseas. Is it possible for One spouse to take Income Exclusion (form 2555) and the other spouse to just take the Foreign Tax Credit (form 1116)?

Or do they both have to take the Exclusion if one of them needs to takes the Exclusion.

 

Thanks

 

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2 Replies 2
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Level 12

You seem to have asked this Three Times, now. That means the peer users that volunteer to be helpful are having to follow again from the beginning, every time. Here is the other topic that has answers:

https://proconnect.intuit.com/community/proseries-discussions/discussion/foreign-tax-credit-carrybac...

I will mark this one as Duplicate. No need to keep starting the same subject as new topics. Thanks.

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Level 3

Actually, this is the first time I asked this question. Please look at it carefully. I asked if TaxPayer chooses to exclude income ( form 2555). Is the spouse REQUIRED to also exclude income - using form 2555. Or can spouse just take the Foreign Tax Credit if that's more beneficial to Spouse.

That's my question, and its not a repeat.

Thanks - if you have insignt I will appreciate it. Though returns have been filed, but it will be good for next time.

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