[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-11471":3},{"rec_id":4,"title":5,"text":6},"11471","Why wouldn't I want to claim the exception?","Claiming the exception means you don't have to reduce your foreign income or go to the trouble of calculating an adjustment. However, if you claim the exception, you won't be able to claim adjustments to your overall taxable income on \u003Ci>Form 1116\u003C/i>, either.\r\n\u003Cbr>\u003Cbr>\r\nIf you have US-sourced qualified dividends or capital gains and relatively few foreign qualified dividends and capital gains, it may be beneficial for you to adjust the foreign amounts rather than claim the exception. If you adjust your foreign income, you can also adjust your overall taxable income (we'll make that second adjustment for you). This could increase your foreign income ratio and thus the maximum amount of \u003Ci>Foreign Tax Credit\u003C/i> you can claim.\r\n\u003Cbr>\u003Cbr>\r\nIf you're comfortable making any necessary adjustments to your foreign income, you could test both ways in the software to see which is best. Otherwise, you may want to go ahead and claim the exception.",1777391518747]