If I choose to apply foreign tax credits instead of foreign earned income exclusion (even if I can) this year, can I apply foreign earned income exclusion next year?
I've always applied foregin earned income exclusion for previous years. Will I be barred to apply foreign earned income exclusion next year if I stop applying it this year?
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1 Best answer
KarenJ2
Expert Alumni
Mar 23, 2020 5:17:44 AM
Yes, you will not be able to use the foreign earned income exclusion for 5 years if you have been using it every year and choose not to use it one year.
Yes, you will not be able to use the foreign earned income exclusion for 5 years if you have been using it every year and choose not to use it one year.