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****Can a taxpayer claim both the foreign earned income exclusion and the foreign tax credit?...

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Question

Accounting

****Can a taxpayer claim both the foreign earned income exclusion and the foreign tax credit?

1. No, the taxpayer must choose one tax benefit or the other.

2. Yes, but the taxpayer cannot claim the credit for taxes paid on excluded income.

3. Yes, but the taxpayer cannot claim the credit and exclusion on income from the same country.

4. Yes, but the taxpayer cannot claim the credit and exclusion on income in the same category.

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Luke was physically present in the United States for 110 days in 2016, 180 days in 2015, and 120 days in 2014. Under the substantial presence test formula, how many days is Luke deemed physically present in the United States in 2016 for purposes of determining if he is a resident alien?

1. 110

2. 180

3. 190

4. 360

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