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syedHarisali
Level 3

Foreign income and child tax credit

Last year we file tax for 2019 using turbo tax. (for different person)

A US citizen, how is living and working abroad since last 2 year, marriage filling jointly, having 2 kids less then 6 year old. No USA income.

2019 mentioned foreign income in turbo tax,  but turbo tax marked it as excluded has total income counted as zero '0'.   Result in no child credit and other low income credit etc..

1)  Going to file tax for 2020:  Do he quality for child and other credit ?  what option to choose in turbo tax ? to avoid repeating issue this year.   (USA-Pakistan has territory signed. hence income should count I think)

 

2) How do file correction for 2019 using turbo tax..

Please guide  and advise.

using version of turbo with come with 5 accounts (e-file)

2 Best answer

Accepted Solutions
Critter-3
Level 15

Foreign income and child tax credit

Read up on the rules on revoking the foreign income exclusion since you cannot just switch back and forth at will ... see page 21 ...  https://www.irs.gov/pub/irs-pdf/p54.pdf

View solution in original post

Critter-3
Level 15

Foreign income and child tax credit

Follow the foreign income section and do NOT choose to exclude the income.  Read all the screens slowly and carefully.  If you need more program assistance contact TT support directly :       

 

Please use the following link to contact Customer Support for further assistance.

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

View solution in original post

9 Replies
Critter-3
Level 15

Foreign income and child tax credit

Read up on the rules on revoking the foreign income exclusion since you cannot just switch back and forth at will ... see page 21 ...  https://www.irs.gov/pub/irs-pdf/p54.pdf

syedHarisali
Level 3

Foreign income and child tax credit

So what to do  now ? some detail please

Critter-3
Level 15

Foreign income and child tax credit

Sorry but I cannot tell you what to do ... you need to consider your situation carefully and decide if you want to revoke the foreign income exclusion for the next 5 years or not.  Each choice has pros and cons.  Seek l professional assistance if you need assistance, this nameless faceless public forum is not the best choice for legal advice. 

syedHarisali
Level 3

Foreign income and child tax credit

Thanks for info. 

syedHarisali
Level 3

Foreign income and child tax credit

 If you choose not to claim foreign income exclusions, how would you report foreign wages earned without the exclusion, and also be able to claim the EIC and Child Tax Credit?

Critter-3
Level 15

Foreign income and child tax credit

You can't have your cake and eat it too ... if you exclude the income you lose the credits. 

syedHarisali
Level 3

Foreign income and child tax credit

Exclusion was taken by mistake, filling correction to revert it back.  Now the question is :

 

If you choose not to claim foreign income exclusions, how would you report foreign wages earned without the exclusion, and also be able to claim the EIC and Child Tax Credit?  

 

Could you please guide, so we can file right this time.

Critter-3
Level 15

Foreign income and child tax credit

Follow the foreign income section and do NOT choose to exclude the income.  Read all the screens slowly and carefully.  If you need more program assistance contact TT support directly :       

 

Please use the following link to contact Customer Support for further assistance.

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

syedHarisali
Level 3

Foreign income and child tax credit

Thanks!!

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