turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

MP1
New Member

I am taking foreign earned income exclusion. Is it also allowed to take foreign tax credit for foreign taxes paid for passive foreign income (both forms 1116 and 2555)?

Turbo tax allowed me to enter both. But just wanted to make sure...

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
pk
Level 15
Level 15

I am taking foreign earned income exclusion. Is it also allowed to take foreign tax credit for foreign taxes paid for passive foreign income (both forms 1116 and 2555)?

Any un-excluded income  ( foreign earned income exclusion ) , is eligible for  foreign tax credit--if that income is taxed by both the USA and the  "other" country. So yes  you can have  both form 2555 and 1116 in one return.  You should just make sure  that there is no double counting.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies