Greta
Level 9
06-09-2020
07:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Does deducting abroad income via Form 2555 preclude client from Form 8880 credit?
Labels
itonewbie
Level 15
06-09-2020
07:33 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
No but eligible will be impacted if the AGI adjusted for §911 puts your client over the threshold.
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar
Greta
Level 9
06-10-2020
07:17 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I apologize for my ignorance, how do I find Section 911 in irs.gov? Clients' MFJ line 8b is $36,424, and there are no other deductions except Form 2555, yet Form 8880 is denying credit because of AGI being over the $64K limit.
itonewbie
Level 15
06-10-2020
09:36 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
F.2555 is for exclusions allowed under §911. My response was based on §25B(e).
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar
itonewbie
Level 15
06-10-2020
09:38 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
It's disallowed because his AGI, including FEIE, is over the threshold.
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar
