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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 i
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
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ReportAnswer #1

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

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