Question

George is a U.S. citizen who is employed by Hawk Enterprises, a global company. Beginning on June 1, 2019, George began working in London (for a total of 214 days in 2019). He worked there until January 31, 2020, when he transferred to Paris. He worked in Paris the remainder of 2020. His salary for the first five months of 2019 was $100,000, and it was earned in the United States. His salary for the remainder of 2019 was $175,000, and it was earned in London. George's 2020 salary from Hawk was $300,000, with part being earned in London and part being earned in Paris.

Assume the 2020 indexed amount is the same as the 2019 indexed amount. Assume 365 days in 2019 and 366 days in 2020 (a leap year).

Carry any fractions out to four decimal places. Round your final answers to the nearest dollar.

Determine George’s gross income in2019 and 2020

*Please include workings to it*

Answer 1

Answer: * Determinc George's gross income in J019 and doao ? Georges gross in come in 2019 + Geogey con exclude the following amount from his grase income . . all x $103,900 $60917 365 SO) Georofy gross income in 2019 = (1 915,000 - $60,907) = $814,083 (.175,000-+100,000 = 2.75,000 1. Lot Georges gro Georges gross income in 2019 - $214083 Girone A SOSS income in 2020 George's con exelade the following amount from hy ross income a x 103,900 = $103,900. - The lower of Earned in comedy # 300,000 or foreign eamed Encome Exclusion ceiling of 4203,960 for 2020

sor . Greorge gross income in 2020 = $300,000 - $103,900 =$196,100 4. George gross income in 2000 = $196,100 /