Dealing With Tax Problems: Easy As Pie: Difference between revisions

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Revision as of 16:50, 29 August 2026


A credit is allowed for foreign income taxes paid or accrued. The finance is limited to that particular part of You.S. tax due to foreign source income. It is far from refundable, but any excess credit can be carried to other years to reduce tax.

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Julie's total exclusion is $94,079. In her American expat tax return she also gets to claim a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. in taxes.

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