puravidapto
Level 8
05-05-2025
08:16 AM
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1 - I have foreign earned income 189750 in 2024
2 - I paid foreign tax 37950
3 - My foreign earned income exclusion is 126500
4 - My inclusion amount is 189750 - 126500 = 63250
5 - This amount is automatically included in form 1116 (foreign tax credit)
Question is: what is the tax amount associated with the amount in line 4 above? Can the software calculate itself based on the facts in line 1-2 given it already calculate the amount in line 4, or I have to do it myself?
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