I have been living and working outside the US for almost a year which is why I'm seeking to use the FTC instead of the FEIE. After figuring out entering info in the FTC section TurboTax finishes the section by stating that my FTC is a certain amount. What is this amount? it is significantly less than the actual taxes I paid in the country I live in. It's a few hundred dollars and I paid close to 12k in taxes. This is my first year at this job and have never had significant foreign income before. I was under the impression that FTC was a dollar for dollar credit, so why isn't my credit higher?
Is it important to enter foreign income in TT's "wages & income" section? It seems like foreign income can't be entered was wages unless you elect the FEIE. I have only entered my foreign income in the FTC section.
