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Felicity property excluded all of foreign earned income on Form 2555 in 2015. In 2016,...

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Accounting

Felicity property excluded all of foreign earned income on Form 2555 in 2015. In 2016, she claimed the foreign tax credit on all her foreign income (including her foreign waged) What is the result of her choice in 2016?

A) The election to exclude her foreign earned income is revoked for the next ten years.

B) The amount of her foreign tax must be redetermined and an amended return filed for tax year 2015 to adjust the amount of allowable deduction.

C) She may not carry any foreign tax credit to future tax years.

D) She may carryback any unused foreign tax credit back to 2015.

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