1040-US: Form 2555 allocation code

Alerts and notices


I entered a form and unit number in Screen 1116, so why didn't the tax application calculate any foreign amounts?


To allocate income between U.S. and foreign earned, select a Form 2555 allocation code on the appropriate Screen C, F, K1, W2, FEC, or 1099M for the form and unit number selected on Screen 1116, in the Credits folder. Income calculated as foreign earned during the assignment is used to calculate the Form 2555 exclusion. Foreign income earned before, during, and after the foreign assignment is reported, less any applicable exclusion, by Form 1116 as eligible for the foreign tax credit. The Form 2555 Allocation Worksheet reports the allocation between U.S. and foreign earned income.