- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
If you never claimed the the Foreign Earned Income Exclusion then you will put a check next to "you didn’t previously file Form 2555 or Form 2555-EZ to claim either of the exclusions".
Please be aware this is not a tax credit it excludes your foreign income and therefore reduces your taxable income.
If you claim the exclusion one year but then not (and you still qualify) then you need to revoke your choice to exclude your foreign income. If you revoked a choice and within 5 tax years wish to again choose the same exclusion, you must apply for IRS approval. Please see Revoking Your Choice to Exclude Foreign Earned Income for more detail.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 21, 2021
6:07 AM