Irs Publication 54 - Tax Guide For U.s. Citizens And Resident Aliens Abroad - 2008 Page 27
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443
Form 2555 (2008)
Page
Part V
All Taxpayers
92,000
27
27
Enter the amount from line 26
Are you claiming the housing exclusion or housing deduction?
Yes. Complete Part VI.
No. Go to Part VII.
Part VI
Taxpayers Claiming the Housing Exclusion and/or Deduction
30,000
28
28
Qualified housing expenses for the tax year (see instructions)
29a Enter location where housing expenses incurred (see instructions)
26,280
29b
b Enter limit on housing expenses (see instructions)
26,280
30
30
Enter the smaller of line 28 or line 29b
31
Number of days in your qualifying period that fall within your 2008 tax
days
31
366
year (see instructions)
32
14,016
32
Multiply $38.30 by the number of days on line 31. If 366 is entered on line 31, enter $14,016.00 here
33
Subtract line 32 from line 30. If the result is zero or less, do not complete the rest of this part or
33
12,264
any of Part IX
34
92,000
34
Enter employer-provided amounts (see instructions)
35
Divide line 34 by line 27. Enter the result as a decimal (rounded to at least three places), but do
.
1
000
35
not enter more than “1.000”
36
Housing exclusion. Multiply line 33 by line 35. Enter the result but do not enter more than the
36
12,264
amount on line 34. Also, complete Part VIII
Note: The housing deduction is figured in Part IX. If you choose to claim the foreign earned
income exclusion, complete Parts VII and VIII before Part IX.
Taxpayers Claiming the Foreign Earned Income Exclusion
Part VII
$87,600
00
37
37
Maximum foreign earned income exclusion
● If you completed Part VI, enter the number from line 31.
38
days
38
366
● All others, enter the number of days in your qualifying period that
fall within your 2008 tax year (see the instructions for line 31).
● If line 38 and the number of days in your 2008 tax year (usually 366) are the same, enter “1.000.”
39
.
39
1
000
● Otherwise, divide line 38 by the number of days in your 2008 tax year and enter the result
as a decimal (rounded to at least three places).
40
87,600
40
Multiply line 37 by line 39
79,736
41
Subtract line 36 from line 27
41
42
Foreign earned income exclusion. Enter the smaller of line 40 or line 41. Also, complete Part VIII
42
79,736
Part VIII
Taxpayers Claiming the Housing Exclusion, Foreign Earned Income Exclusion, or Both
43
92,000
43
Add lines 36 and 42
44
Deductions allowed in figuring your adjusted gross income (Form 1040, line 37) that are allocable
44
to the excluded income. See instructions and attach computation
45
Subtract line 44 from line 43. Enter the result here and in parentheses on Form 1040, line 21.
Next to the amount enter “Form 2555.” On Form 1040, subtract this amount from your income
to arrive at total income on Form 1040, line 22
45
92,000
Part IX
Taxpayers Claiming the Housing Deduction—Complete this part only if (a) line 33 is more than line
36 and (b) line 27 is more than line 43.
46
46
Subtract line 36 from line 33
47
47
Subtract line 43 from line 27
48
48
Enter the smaller of line 46 or line 47
Note: If line 47 is more than line 48 and you could not deduct all of your 2007 housing deduction
because of the 2007 limit, use the worksheet on page 4 of the instructions to figure the amount
to enter on line 49. Otherwise, go to line 50.
49
49
Housing deduction carryover from 2007 (from worksheet on page 4 of the instructions)
50
Housing deduction. Add lines 48 and 49. Enter the total here and on Form 1040 to the left of
line 36. Next to the amount on Form 1040, enter “Form 2555.” Add it to the total adjustments
reported on that line
50
2555
Form
(2008)
Chapter 4 Foreign Earned Income and Housing: Exclusion – Deduction
Page 27
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