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Beaumont Texas Form 2555-EZ: What You Should Know

Your ability to qualify For the bona fide residence test, you must meet either one of these two tests: you must have a U.S. citizen spouse; or you must have a U.S. citizen child. In addition to these tests, you must be a resident of the U.S. for at least one year after the end of the most recently completed tax year. You must also have lived in the U.S. for at least half of the year (and up to 3 tax years) that qualifies you for the exclusion. For the physical presence test, you must have lived in the U.S. for at least 6 months in the 12 months before filing the tax return. You should be able to meet one of these tests by meeting either one of the two tests described above. As a result of these tests, the amount of a U.S. taxpayer's foreign earned income that can be excluded from gross income may be lower (depending on your ability to qualify). In determining your ability to qualify, the IRS looks at factors such as your age; age of children, spouse, and former spouse; U.S. immigration status; and the number of U.S. resident children. See Foreign Earned Income Exclusion — Limits and the bona fide residence test for more information. 2019. 2021 Instructions for Form 2555 — IRS If you qualify, you can use Form 2555 to figure your foreign earned income exclusion and your housing exclusion or deduction. You cannot exclude or deduct more Foreign Earned Income Exclusion — Forms to File — IRS Jul 27, 2024 — Form 2555 shows how you qualify for the bona fide residence test or physical presence test, how much of your foreign earned income is excluded,  how you can exclude earned income you did not receive or paid through a partnership, S corporation, LLC, or other entity, your ability to exclude certain sources of income, and  tax consequences of claiming the property loss or deduction and the bona fide residence test. Your ability to qualify For the bona fide residence test, you must meet either one of these two tests: you must have a U.S.

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