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When utilizing the foreign earned income exclusion and

housing deduction on Form 2555...
When utilizing the foreign earned income exclusion and housing deduction on Form 2555 and coordinating with the Form 1116, the foreign tax credit must be reduced a formula for prorating tax credit available. My question is: Does the foreign gross income on line 1a of the Form 1116 have to be reduced for the excluded amount of income?
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4/6/2017
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,986
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Yes, on line 1a you must reduce the amount by any excluded income. Don't include any earned income excluded on Form 2555, Foreign Earned Income, or Form 2555-EZ, Foreign Earned Income Exclusion.

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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,986
Experience: 15years with H & R Block. Divisional leader, Instructor
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