Which of the following is not one of the three requirement to claim the FEIE? A)...
Which of the following is not one of the three requirement to claim the FEIE? A) foreign earned income. B) tax home in a foreign country. C) meet either the bona fide residence test or the physical presence test. D) US citizen
Homework Answers
The option C is the correct answer.
Meet either the bona fide residence test or the physical presence test is not required to claim the FEIE.
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Which of the following is not one of the three requirement to
claim the FEIE? A)...
Exam Question 14 of 15 Select the best answer. Which of the following sets of choices...
Exam Question 14 of 15 Select the best answer. Which of the following sets of choices may not switch back and forth by year? A. Foreign earned income exclusion versus foreign tax credit. B. Bona fide residence versus physical presence test O C. Specific date exchange rates versus average exchange rate 0 D. Foreign housing exclusion versus no foreign housing exclusion. Submit Answers
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.
1) Don is a citizen of Great Britain and a famous race car driver. He decides...
1) Don is a citizen of Great Britain and a famous race car driver. He decides to come to the U.S. to open a car dealership in Detroit. He is in the U.S. during the following periods: 2016: April 1 through August 1 2017: March 1 through August 1 Which of the following is Don's U.S. tax status for 2017? a. Resident alien under the green card test b. Nonresident alien c. Resident alien under the substantial presence test d....
Which of the following is not a test or requirement to claim a dependent as a...
Which of the following is not a test or requirement to claim a dependent as a qualifying child? marital status of dependent filing status the dependent uses on their separate tax return relationship to the taxpayer principal residence of the dependent age of the dependent
Which of the following is not a test or requirement to claim a dependent as a...
Which of the following is not a test or requirement to claim a dependent as a qualifying child? marital status of dependent O filing status the dependent uses on their separate tax return relationship to the taxpayer principal residence of the dependent age of the dependent
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...
DQuestion 4 4 pts Which of the following is not a test or requirement to claim...
DQuestion 4 4 pts Which of the following is not a test or requirement to claim a dependent as a qualifying child? O principal residence of the dependent O filing status the dependent uses on thei separate tax return O age of the dependent O marital status of dependent O relationship to the taxpayer
International Scenario 2: Drew and Sierra Hillsdale Interview Notes Drew and Sierra currently live in Sydney,...
International Scenario 2: Drew and Sierra Hillsdale Interview Notes Drew and Sierra currently live in Sydney, Australia They moved there on March 3, 2017 and currently rent a 2-bedroom Sydney, Australia. and Sierra intend to eventually return to the United States. . condo in Sierra was transterred there for an indefinite period of time. Drew Their son attends college in the U.S. and - Drew and Sierra are both employed by the same U.S.-based Fortune 500 mp is finishing up...
To qualify to claim EITC, a taxpayer with or witheut children must meet the following tests:...
To qualify to claim EITC, a taxpayer with or witheut children must meet the following tests: have a valid SSN, not file MFS, be a citizen or resident alien all year, not file Form 2555, not have investment income of more than $3,500, and 1.Meet the joint return test 2.Never have been tumed down for EITC 3. Produce two forms of identification, one of which is a photo ID 4. Have earned income
Question 57 of 75 Can a taxpayer claim both the foreign earned income exclusion and the...
Question 57 of 75 Can a taxpayer claim both the foreign earned income exclusion and the foreign tax credit? O No, the taxpayer must choose one tax benefit or the other. O Yes, but the taxpayer cannot claim the credit for taxes paid on excluded income O Yes, but the taxpayer cannot claim the credit and exclusion on income from the same country O Yes, but the taxpayer cannot claim the credit and exclusion on income in the same category...
Exam Question 14 of 15 Select the best answer. Which of the following sets of choices may not switch back and forth by year? A. Foreign earned income exclusion versus foreign tax credit. B. Bona fide residence versus physical presence test O C. Specific date exchange rates versus average exchange rate 0 D. Foreign housing exclusion versus no foreign housing exclusion. Submit Answers
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.
Which of the following is not a test or requirement to claim a dependent as a qualifying child? marital status of dependent filing status the dependent uses on their separate tax return relationship to the taxpayer principal residence of the dependent age of the dependent
Which of the following is not a test or requirement to claim a dependent as a qualifying child? marital status of dependent O filing status the dependent uses on their separate tax return relationship to the taxpayer principal residence of the dependent age of the dependent
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...
DQuestion 4 4 pts Which of the following is not a test or requirement to claim a dependent as a qualifying child? O principal residence of the dependent O filing status the dependent uses on thei separate tax return O age of the dependent O marital status of dependent O relationship to the taxpayer
International Scenario 2: Drew and Sierra Hillsdale Interview Notes Drew and Sierra currently live in Sydney, Australia They moved there on March 3, 2017 and currently rent a 2-bedroom Sydney, Australia. and Sierra intend to eventually return to the United States. . condo in Sierra was transterred there for an indefinite period of time. Drew Their son attends college in the U.S. and - Drew and Sierra are both employed by the same U.S.-based Fortune 500 mp is finishing up...
Question 57 of 75 Can a taxpayer claim both the foreign earned income exclusion and the foreign tax credit? O No, the taxpayer must choose one tax benefit or the other. O Yes, but the taxpayer cannot claim the credit for taxes paid on excluded income O Yes, but the taxpayer cannot claim the credit and exclusion on income from the same country O Yes, but the taxpayer cannot claim the credit and exclusion on income in the same category...
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