Hello. I understand what you are saying with regard to "compensation" and being allowed to contribute to an IRA, but do you know if you can exclude only a portion of your foreign income? In other words, I would like to exclude all of my foreign income except $6,000 worth so that I can then contribute to an IRA (all of my foreign earned income is way below the over $100,000 maximum excludable amount)...is this scenario possible? I have been unable to find anywhere on IRS.gov or Turbotax saying whether it is possible to only exclude the amount of foreign income that you want.
I understand that I technically owe taxes on that income (plus any interest/dividends I made) but the amount I chose not to exclude along with qualified deductions/credits, takes my tax liability to $0. This would make it worthwhile in my eyes as it allows me to contribute to my IRA.
I appreciate any feedback.
