Re: Foreign income and IRA question

I appreciate the last two postings, and perhaps I am being
obtuse, but how do they address the question I posed in my
OP, which I will repeat: "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?"

Now to summarize:
1. Should I have made the IRA contribution? (If not, how
can I rectify this? Amended taxes?)
2. Must I take the exclusion and/or tax credit? Will this
change the answer to question 1?
3. How is the U.S. tax determined on foreign income? What
is the foreign exchange rate? Who sets it? When?
4. Do any of the above answers change, as I am filing jointly
and my spouse will be using all available means to lower
her high income.
Thanks again.

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garagecapital
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