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M 1040 You May Use This Form If You: Part I 1 2002 Attachment Sequence No. 34A Your social security number Are a U.S. citizen or a resident alien. Earned wages/salaries in a foreign country. Had total foreign earned income of $80,000 or less. Are filing a calendar year return that covers a 12-month period. Do not have self-employment income. And You: Do not have business/moving expenses. Do not claim the foreign housing exclusion or deduction. Tests To See I.

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You need to complete Form 2555 (or Form 2555-EZ if you don't claim the housing deduction) and file it with your form 1040. It will allow you to exclude up to $108,700 of your foreign earned income from your taxable income.

Form 2555. You must attach Form 2555, Foreign Earned Income, to your Form 1040 or 1040X to claim the foreign earned income exclusion, the foreign housing exclusion or the foreign housing deduction.

Form 2555, known as the Foreign Earned Income Exclusion form, is a critical U.S. tax form for American citizens or resident aliens residing in a foreign country. This form allows you to exclude a specific amount of your foreign earned income from federal income tax.

The foreign earned income exclusion is voluntary. You can choose the foreign earned income exclusion and/or the foreign housing exclusion by completing the appropriate parts of Form 2555.

The IRS Form 2555 is the Foreign Earned Income Exclusion form. The form is used primarily by Expats who meet the IRS Foreign Earned Income Exclusion. Common questions we receive include: Do I pay U.S. tax if i live overseas?

You meet the physical presence test if you are physically present in a foreign country or countries 330 full days during any period of 12 consecutive months including some part of the year at issue. The 330 qualifying days do not have to be consecutive.

Federal law requires U.S. citizens and resident aliens to report their worldwide income, including income from foreign trusts and foreign bank and other financial accounts.

Part of the foreign earned income exclusion, the foreign housing exclusion allows expats to deduct certain living expenses from their taxable incomes. To qualify, you must meet either the physical presence test or the bona fide residence test and be eligible to claim the foreign earned income exclusion.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232