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Deductions & credits
Thanks, great support, and you got most of it right.
1) No other income
2) MFJ, bracket is actually 94,300-201,050
3) Unfortunately no FTC as there are no income taxes paid in this here country, no tax treaty either and no ss bilateral agreements, however the company does pay into a local ss locally known as National Insurance.
Where I get my doubts is here and I am citing the IRS on this:
and particularly this paragraph:
Figuring the tax: If you qualify for and claim the foreign earned income exclusion, the foreign housing exclusion, or both, must figure the tax on your remaining non-excluded income using the tax rates that would have applied had you not claimed the exclusion(s). Use the Foreign Earned Income Tax Worksheet in the Form 1040 Instructions.
That is where I figured the 22% tax bracket.
Then I ran a mock 2555/1040/schedule1 return and I must have made a mistake because it came out with tax due 0, nada, zilch while I know I had a residue of about 30k taxable income after standard deduction and 16k into a qualified traditional IRA.