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Revision as of 02:41, 30 August 2026
A credit is allowed for foreign income taxes paid or accrued. The money is limited to that particular part of U.S. tax due to foreign source income. It's not at all refundable, but any excess credit end up being the 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 declare 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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