Hello,
I am a foreign resident and have been claiming Foreign Earned income exclusion for past several years for the income I earn in the foreign country. I have also been claiming Foreign Tax credit (FTC) on passive income (bank interest) earned from foreign bank.
This year my income is more than the exclusion threshold of $105,900 (single filing). I read through the forum and I understand that I can claim FTC on income that exceeds this threshold. However I am not clear how this can be done in Turbo Tax.
Do I need to call out this income exceeding the threshold somewhere under wages and then go fill the Foreign Tax Credit section (form 1116) OR should I just go to Foreign Tax Credit and just fill in this excess amount along with the taxes? I would really appreciate your response.
PS: apologies for the long winded question but I wanted to give enough context.
