Hi,
I have decided to wait until May 2023 to meet the SPT requirements.
We plan to report worldwide income. I had around $14000 income in India for 1st Jan to 23rd July and paid Taxes of $1850 on this income in India.
What option do I have?
- Can I go for Foreign Income Exclusion? Am I eligible under Physical Presence test as I was in India from Jan 2013 to 23rd July 2022. (Getting more refund)
OR
- Should I go for Form 1116 - Foreign Tax Credit. (Getting little less refund)
Also, you mentioned my son's don't have to do the election for full year resident. Right? but he is 18 years so is it safe to just attach his Full year resident election statement. He doesn't have any income in India neither in USA. He was student and we were supporting in India. Here too we support him?
thanks.
