The Foreign Earned Income Exclusion is filed on Form 2555 that allows an exclusion up to $102,100 of your foreign earned income if you a U.S. citizen or a U.S. resident alien living an working in a foreign country.
The Foreign Tax Credit is filed on Form 1116 and this is used to claim credit on the taxes that were paid on the amount of earned income that exceeded the exclusion amount of $102,100.
Both forms can be used on the same return.
To enter the forms in TurboTax Premier Online
Sign into TurboTax
- Click on Take me to my return
- Click on Search at top right and enter foreign earned income or enter foreign tax credit
- Click on Jump to foreign earned income or Jump to foreign tax credit
- Go through interview questions
