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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.
‎July 15, 2020
6:09 AM