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Q2. Foreign Earned Income Exclusion and Foreign Housing Exclusion
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Q Jack was a resident of England. He may claim an exclusion from U.S. income tax on all his foreign source income under the following conditions, EXCEPT: 1.Tax home must be in a foreign country 2.Must have foreign earned income 3.He was a resident of England for a period of 6 months. 4.He is a US citizen or US resident alien correct answer He was a resident of England for a period of 6 months. explanation To claim the foreign earned income exclusion, the foreign housing exclusion, or the foreign housing deduction, a taxpayer must meet all three of the following requirements: Tax home must be in a foreign country Must have foreign earned income Must be either: A U.S. citizen who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year, A U.S. resident alien who is a citizen or national of a country with which the United States has an income tax treaty in effect and who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year, or A U.S. citizen or a U.S. resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months.
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