Foreign Tax Credits vs Foreign Earned Income Exclusion

As an individual 1040 filer living outside of the U.S. you have two options:  The Foreign Earned Income Exclusion (FEIC) or Foreign Tax Credits (FTC).  The FEIC approach is less difficult.  The FTC approach is more advanced.  The FTC method, you actually have to allocate the taxes you paid in say Canada to the taxable income in the US.   Investment income is not taxed in the same manner as wages etc, this needs to be considered.