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@jenniferaconners , as I understand the QBI regs ----
(a) QBI does not include items such as:
items that are not properly includable in taxable income
.
.
(b) It has nothing to do with whether you claim Foreign Earned Income Exclusion or Foreign Tax credit -- depends only on the source of the income i.e. it must be US sourced/ connected
Here is a good articulation of the can and cannots of the QBI -->
Are you US citizen/Resident Alien/ Resident Alien for tax purposes ? Is your tax home abroad ? Do you pass the Physical Presence Test ? Which country is the income from ( self-employment ) -- assuming that the work was done abroad
@jenniferaconners , as I understand the QBI regs ----
(a) QBI does not include items such as:
items that are not properly includable in taxable income
.
.
(b) It has nothing to do with whether you claim Foreign Earned Income Exclusion or Foreign Tax credit -- depends only on the source of the income i.e. it must be US sourced/ connected
Here is a good articulation of the can and cannots of the QBI -->
And here is more from the IRS -->
Are you US citizen/Resident Alien/ Resident Alien for tax purposes ? Is your tax home abroad ? Do you pass the Physical Presence Test ? Which country is the income from ( self-employment ) -- assuming that the work was done abroad
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