from 2555 instructions
Foreign Earned Income
Enter in this part the total foreign earned income you earned and
received (including income constructively received) during the
tax year. If you are a cash basis taxpayer, include in income on
Form 1040 or 1040-SR the foreign earned income you received
during the tax year regardless of when you earned it.
from from 2555 part IV
Note: Enter on lines 19 through 23 all income, including noncash income, you earned and actually or constructively received during your 2023 tax year for services you performed in a foreign country. If any of the foreign earned income received this tax year was earned in a prior tax year, or will be earned in a later tax year (such as a bonus), see the instructions. Don’t include income from line 14, column (d), or line 18, column (f). Report amounts in U.S. dollars, using the exchange rates in effect when you actually or constructively received the income. If you are a cash basis taxpayer, report on Form 1040 or 1040-SR all income you received in 2023, no matter when you performed the service.
it's an all or nothing election. the FEIE is voluntary in which case perhaps taking the foreign tax credit, if available, is better.
