[[Just wondering . . . . Is the foreign earned income credit partially optional? In other words, can eligible taxpayers forego part of the credit in order to generate earned income to contribute to an IRA? If so, a no-lose strategy would be to forego $2000 of the credit and use the IRA deduction to avoid taxation on the money. ]]It appears so. I was asked this question last summer, and my research indicated that the foreign EI exclusion was an election, and you can elect as much or as little as you would like. Which would certainly make this strategy viable. TMF TaxesRoy
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra