wgraham969
New Member
In trying to complete my 2006 income tax return, I stumbled across a situation that I just don't know how to deal with, and the federal tax guides (Surprise!!!
) just don't give enough help.
I qualify for the foreign-earned income exemption (qualified with the presence test, more than 330 days in a period from August 2005 - August 2006). My question concerns the maximum allowable deduction.
Can I take the maximum allowable deduction for BOTH 2005 and 2006--since I earned the income in both years--or must the maximum allowable deduction be prorated between the two tax years?
) just don't give enough help.I qualify for the foreign-earned income exemption (qualified with the presence test, more than 330 days in a period from August 2005 - August 2006). My question concerns the maximum allowable deduction.
Can I take the maximum allowable deduction for BOTH 2005 and 2006--since I earned the income in both years--or must the maximum allowable deduction be prorated between the two tax years?
