Question

What types of income quality for the forecame income exclusion? O The exduos de lo ngs from personal services rendered in for
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Option D is correct


Foreign-earned income means wages, salaries, professional fees, or other amounts received for personal services rendered by an individual and he is 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

Add a comment
Know the answer?
Add Answer to:
What types of income quality for the forecame income exclusion? O The exduos de lo ngs...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • What types of income qualify for the foreign-earned income exclusion? A. The exclusion is applicable to...

    What types of income qualify for the foreign-earned income exclusion? A. The exclusion is applicable to earnings from personal services rendered in foreign countries. To qualify, a taxpayer must either be a bona fide resident of one or more foreign countries for the entire taxable year or be present in one or more foreign countries for a minimum of 330 days during a period of 12 consecutive months. B. The exclusion is applicable to earnings from investments sold in foreign...

  • Which of the following is NOT a requirement for a taxpayer to claim foreign earned income...

    Which of the following is NOT a requirement for a taxpayer to claim foreign earned income exclusion? B. A. The taxpayer must have foreign earned income. The taxpayer must be physically present in a foreign country for 6 consecutive months during the tax year. The taxpayer's tax home must be in a foreign country. The taxpayer must be physically present in a foreign country for at least 330 full days during any period of 12 consecutive months. C. D.

  • 13. Explain what a qualified residence is for purposes of qualified residence interest. A. For any...

    13. Explain what a qualified residence is for purposes of qualified residence interest. A. For any taxable​ year, a taxpayer may have a maximum of three qualified​ residences: the​ taxpayer's principal​ residence, and two other residences selected by the taxpayer which the taxpayer personally uses more than the greater​ of: 14 days or​ 10% of the rental days during the year. Qualified residence interest may be deducted for all qualified residences. B. For any taxable​ year, a taxpayer may have...

  • 1. FOREIGN-EARNED INCOME Christian Okoye is given a temporary assignment to work in a foreign country....

    1. FOREIGN-EARNED INCOME Christian Okoye is given a temporary assignment to work in a foreign country. He arrives on October 12, 2019, and departs on October 1, 2020. Mr. Okoye does not establish a permanent residency in the foreign country, but he is present for at least 330 days out of a 12-month period, beginning on October 13, 2019. (I.e. one day after he arrived in the foreign country.) Required: Based on the above information, how much income can Mr....

  • Achoices: Total tax liability owed, Adjusted gross income (AGI), Gross income (all income subject to income...

    Achoices: Total tax liability owed, Adjusted gross income (AGI), Gross income (all income subject to income taxes] Bchoices: Total personal exemptions, (AGI), Adjustments to (gross) income Cchoices: Total tax liability owed, Itemized deductions, (AGI) Dchoices: Taxable income Total personal exemptions Total tax liability owed E: Taxable income (AGI) Other taxes F: Other taxes Total personal exemptions Tax credits G: Tax credits Other credits Tax liability owed H: Taxable income Total tax liability owed Adjestments to (gross) income Ch 03: Assignment...

  • Tax Review 1. Regarding the California Earned Income Tax Credit (CA EITC), earned income used to ...

    Tax Review 1. Regarding the California Earned Income Tax Credit (CA EITC), earned income used to qualify for the credit includes all of the following except: A. Employee compensation subject to California withholding B. Passive Activity Income C. Wages reported on a W-2 Form D. Tips reported on a W-2 From 2. For 2017, the Nonrefundable Renter’s Credit is available for single filers with adjusted gross incomes of what amount or less? A. $37,000 B. $37,995 C. $40,078 D. $80,156...

  • 31. The Lifetime Learning credit may be taken for the following expenses: A. Tuition, fees, books,...

    31. The Lifetime Learning credit may be taken for the following expenses: A. Tuition, fees, books, and living expenses. B. Tuition, all fees, and books. C. Tuition and most fees. 32. Which one of the following statements concerning estimated federal income tax is CORRECT? A. Estimated payments may be taken as itemized deductions on Schedule A. B. Estimated taxes paid during the current year are taken as a credit against the taxpayer’s tax liability. C. Estimated payments are reported on...

  • 8 Credits [1] If a taxpayer qualifies for the Earned Income Credit, such credit can be...

    8 Credits [1] If a taxpayer qualifies for the Earned Income Credit, such credit can be subtracted from A. Gross income to arrive at adjusted gross income. B. Adjusted gross income to arrive at taxable income. C. The tax owed, or can result in a refund, but only if the taxpayer had tax withheld from wages. D. The tax owed, or can result in a refund, even if the taxpayer had no tax withheld from wages. [2] Which of the...

  • Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first...

    Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...

  • What types of organizational culture apply to J.C. Penney before and during this change in leadership?...

    What types of organizational culture apply to J.C. Penney before and during this change in leadership? CASE DESCRIPTION Leadership is the primary subject matter of the case. Secondary issues that may also be examined are corporate culture and the marketing mix of product, price, place and promotion. The difficulty level of this case is a three. It would be appropriate for junior, senior and graduate students. The case may be taught in as little as one hour or could easily...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT