zamrin
New Member

Deductions & credits

I followed instruction and get negative value for FEI on my 1040 which answers say is right doesn't make sense.  My total income is then negative say -40000 (other small income from US from dividends, interest, etc.).  But If I had US income of 35000, would my total then by 5000?  It seems somewhere I should be able to enter foreign income of say 45000, get the exclusion, so that I would just pay tax on my American Income.  My foreign income is entered on 2555.  Is there somewehre else it should go?  I have no W2's,etc. for foreign income.