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Deductions & credits
Thank you walking me through. I just tried 2 options out of the 3 suggested by you
1. If I go for foreign earned income exclusion my tax liability increases by $3000. Note my foreign wages is $33814 and foreign tax is $6733 although they say "I am eligible for foreign earned income exclusion as I meet the Physical Presence test".
2. If I go for foreign tax credit, I see a refund of $3500 when I enter my foreign wages of $33814 and foreign tax paid of $6733. Not sure if I am doint it right here as its such a big difference from FEIC? the only place where I am entering foreign income is in the "Deduction and credit section" under Foreign tax credit under General income category. I am not entering any foreign income in the Income section as the foreign credit section is anyways asking me to put my income. Please correct me if I am doing something wrong here.
This is so confusing. Also can you guide how to file different 1116 each time in Turbo tax for different income?