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Author Question: Jeremy, an American citizen, earned $200,000 during 2016 while employed in Switzerland. Jeremy is ... (Read 74 times)

arivle123

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Question 1

Jan has been assigned to the Rome office of ABC Corporation. She arrives in Rome on November 1, 2014 and does not return to the U.S. until March 5, 2017. During her stay in Rome, Jan earned $112,000 in 2016.  Jan may exclude
◦ $0.
◦ $16,208.
◦ $101,300.
◦ $112,000.

Question 2

Jeremy, an American citizen, earned $200,000 during 2016 while employed in Switzerland. Jeremy is entitled to the maximum foreign-earned income exclusion. Jeremy also incurred $40,000 of deductible expenses attributable to the foreign-earned income. Jeremy may deduct how much in expenses?
◦ $0
◦ $20,260
◦ $19,740
◦ $40,000


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Marked as best answer by arivle123 on Sep 13, 2020

kbennett34

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arivle123

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


bbburns21

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Reply 3 on: Yesterday
Wow, this really help

 

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