AGI and FEIE Advice
Hey all I’m hoping someone can provide general advice regarding my situation. I live and work in NZ, in 2025 I never stepped foot in the US. I have a CPA friend in the US who does my taxes. Now I was under the impression that the FEIE can almost completely reduce your AGI to $0. I make less than 60k USD after taxes. However I do have a rental property and investment funds in the USA. My AGI wound up being 66k. This doesn’t seem right. I’ve asked my accountant about it and they explained that the FEIE and FTC didn’t fully cover everything. My rental property doesn’t make that much money and we were able to write off multiple expenses.
Is anyone else in a similar situation that can advise or does this make sense? Sorry if I’ve left out any critical information. Happy to provide more.