# Tax Drill - Foreign Earned Income Mlo was transferred from New York to Germany. He lived...

Tax Drill - Foreign Earned Income Mlo was transferred from New York to Germany. He lived and worked in Germany for 340 days in 2020. Mio's salary for 2020 is \$190,000. Assume a 365-day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739. If required, round your final answer to the nearest dollar. What is Mio's foreign eared income exclusion? 100,230 x

Maximum Foreign earned income exclusion for 2020 is \$107,600 per person.

Mio's foreign earned income exclusion

= (340 days/365 days) * 107,600

= 0.9315 * 107,600

= 100,229

##### Add Answer to: Tax Drill - Foreign Earned Income Mlo was transferred from New York to Germany. He lived...
Similar Homework Help Questions
• ### Mio was transferred from New York to Germany. He lived and worked in Germany for 342...

Mio was transferred from New York to Germany. He lived and worked in Germany for 342 days in 2019. Mio's salary for 2019 is \$286,400. Assume a 365-day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739. If required, round your final answer to the nearest dollar. What is Mio's foreign earned income exclusion? 99,226.8493 X

• ### Mio was transferred from New York to Germany. He lived and worked in Germany for 358...

Mio was transferred from New York to Germany. He lived and worked in Germany for 358 days in 2020. Mio's salary for 2020 is \$203,200. Assume a 366-day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739 and converted to 47.39%. If required, round your final answer to the nearest dollar. What is Mio's foreign earned income exclusion?

• ### Exercise 5-21 (Algorithmic) (L0.2) Mio was transferred from New York to Germany. He lived and worked...

Exercise 5-21 (Algorithmic) (L0.2) Mio was transferred from New York to Germany. He lived and worked in Germany for 359 days in 2019. Mio's salary for 2019 is \$246,400. Assume a 365-day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739. If required, round your final answer to the nearest dollar. What is Mio's foreign earned income exclusion?

• ### eBook Calculator Exercise 5-21 (Algorithmic) (LO. 2) Mio was transferred from New York to Germany. He...

eBook Calculator Exercise 5-21 (Algorithmic) (LO. 2) Mio was transferred from New York to Germany. He lived and worked in Germany for 351 days in 2020. Mio's salary for 2020 is \$284,800. Assume a 366 day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739 and converted to 47.39%. If required, round your final answer to the nearest dollar. What is Mio's foreign earned income...