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Get your taxes done using TurboTax
Thanks, Dave! As a follow up question, it appears if I choose the exclusion, I would have to take it on all following years: "Once you choose to exclude your foreign earned income and/or your foreign housing costs, that choice remains in effect for that year and all later years unless you revoke it. "
Given that I'm only excluding foreign income from one source (the 1099-NEC), what would happen if I don't have this income stream in coming years? Would I have to claim the exclusion for another source of foreign income such as the one for which I can currently claim a foreign tax credit?
March 9, 2021
3:19 PM