Enter the Form 2555 allocation code

Income earned during a foreign assignment is used to calculate the Form 2555 exclusion. Form 1116 reports foreign income earned before, during, and after the foreign assignment as eligible for the foreign tax credit. The Form 2555 Allocation Worksheet reports the distribution between U.S. and foreign earned income.
  1. Go to the
    1116
    window, then the
    Credits
    folder, and check the form and unit number.
  2. Go to the
    C
    ,
    F
    ,
    K1
    ,
    W2
    ,
    FEC
    , or
    1099M
    screen for the form and unit on the
    1116
    window.
  3. Select a Form 2555 allocation code.
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