I, perhaps misguidedly, made an IRA contribtion for the current tax year, based on the small amount of foreign earned income I will have, about $5K US or $7K AUS. Because I know know that if the foeign earned income is excluded, I will have no income for the year and thus shouldn't have made an IRA contribution, can I? Just not take the exclusion. Pay the US taxes on the $7K AU ($5K US)? How and when or who determines the currency conversion rate to determine how much I made, can contribute, et-cetera? To complicate things, My partner is a high-earner. Can she take the exclusion and I do not? Thanks in advance.
- posted
16 years ago