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Get 2014 Form 2555-ez Foreign Earned Income Exclusion
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How to fill out the 2014 Form 2555-EZ Foreign Earned Income Exclusion online
This guide provides detailed instructions on how to effectively complete the 2014 Form 2555-EZ to claim the foreign earned income exclusion. By following these steps, you will ensure that the form is filled out correctly and efficiently.
Follow the steps to complete your form online.
- Click ‘Get Form’ button to obtain the form and open it in the editor.
- Fill in your name as shown on Form 1040 and enter your social security number in the respective fields.
- In Part I, indicate whether you are a U.S. citizen or resident alien, and confirm your eligibility by answering the questions about your foreign earned income and tax home.
- Complete the Bona Fide Residence Test by selecting 'Yes' or 'No.' If 'Yes,' provide the starting date of your residency and proceed to the next line. If 'No,' check the Physical Presence Test.
- For the Physical Presence Test, answer accordingly and provide the necessary dates. If you meet either test, confirm that your tax home was in a foreign country.
- In Part II, provide your foreign address, occupation, and employer's details including both U.S. and foreign addresses.
- If applicable, specify the country of your citizenship and indicate whether you have previously filed Form 2555 or 2555-EZ. Answer additional questions related to the revocation of the exclusion, if necessary.
- Proceed to Part III to record the number of days spent in the United States during the year.
- In Part IV, calculate your foreign earned income exclusion using the maximum exclusion figure. Provide the number of qualifying days in your online calculation.
- Multiply your foreign earned income exclusion and ensure the total foreign earned income is less than $99,200. Enter relevant amounts on the designated lines.
- Once all sections are completed and verified, save your changes. You may download, print, or share the form as needed.
Take the next step and complete your documents online for timely filing.
The maximum foreign earned income exclusion amount is adjusted annually for inflation. For tax year2021, the maximum foreign earned income exclusion is the lesser of the foreign income earned or $108,700 per qualifying person. For tax year2022, the maximum exclusion is $112,000 per person.