I am a US citizen living abroad. I pass both the bona-fide residency test and the presence test. I pay income taxes in the country where I reside.
I am the sole member of a Delaware LLC, whose income passes through to me. The LLC derives its income from a service it sells mostly to US companies. I am the sole person working for the LLC and perform all of the work related to its operation while I live in another country.
Let's say the LLC ends a particular year with $50,000 in income. Would this be considered "foreign earned income" by the IRS, and would the FEI exclusion apply to it?