Hi,
So that i can benefit from the refundable child tax credit, I have decided to start using the foreign tax credit from this year onwards instead of using the foreign earned income exclusion (which I’ve been using for over 10 years). I understand that once I stop using the FEIE, I won’t be able to use it again for another 5 years (on the 6th year).
I am now finally ready to e-file with Taxact but can’t find a way to attach a statement or put a sentence anywhere on the return stating that I am revoking the FEIE.
1. Is there a way to do this somewhere on Taxact and I haven’t found it?
2. How important is attaching this statement? The IRS says I must.
3. Would you not e-file and send by post so that you can attach the statement even though it will mean my refund will take 6 months plus in all likelihood?
I appreciate any thoughts on the above.
RG
