*** Which of the following is a correct action for a taxpayer who chooses the foreign earned income exclusion?

1. Take a foreign tax credit on income that can be excluded.

2. Take a Schedule A deduction for taxes on income that can be excluded.

3. Figure tax on non-excluded income using tax rates that would have applied had the exclusions not been claimed.

4. Claim additional child tax credit based on excluded earned income.

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***Certain taxpayers can exclude income earned in foreign countries. For 2016, this amount cannot exceed:

1. $102,100

2. $101,300

3. $100,800

4. $99,200