Publication 54 - Tax Guide For U.s. Citizens And U.s. Citizens Abroad - 2001 Page 26
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443
Form 2555 (2001)
Page
Part V
All Taxpayers
89,000
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)
29
Number of days in your qualifying period that fall within your 2001 tax
365
29
days
year (see instructions)
10,557
30
30
Multiply $28.92 by the number of days on line 29. If 365 is entered on line 29, enter $10,557.00 here
31
Subtract line 30 from line 28. If the result is zero or less, do not complete the rest of this part
19,443
31
or any of Part IX
89,000
32
32
Enter employer-provided amounts (see instructions)
33
Divide line 32 by line 27. Enter the result as a decimal (rounded to at least three places), but do
.
1
00
33
not enter more than “1.000”
34
Housing exclusion. Multiply line 31 by line 33. Enter the result but do not enter more than the
19,443
34
amount on line 32. Also, complete Part VIII
Note: The housing deduction is figured in Part IX. If you choose to claim the foreign ear ned
income exclusion, complete Parts VII and VIII before Part IX.
Taxpayers Claiming the Foreign Earned Income Exclusion
Part VII
$78,000
00
35
35
Maximum foreign earned income exclusion
● If you completed Part VI, enter the number from line 29.
36
365
36
days
● All others, enter the number of days in your qualifying period that
fall within your 2001 tax year (see the instructions for line 29).
● If line 36 and the number of days in your 2001 tax year (usually 365) are the same, enter “1.000.”
37
.
1
00
37
● Otherwise, divide line 36 by the number of days in your 2001 tax year and enter the result
as a decimal (rounded to at least three places).
78,000
38
38
Multiply line 35 by line 37
69,557
39
39
Subtract line 34 from line 27
40
69,557
Foreign earned income exclusion. Enter the smaller of line 38 or line 39. Also, complete Part VIII
40
Part VIII
Taxpayers Claiming the Housing Exclusion, Foreign Earned Income Exclusion, or Both
89,000
41
41
Add lines 34 and 40
42
Deductions allowed in figuring your adjusted gross income (Form 1040, line 33) that are allocable
42
to the excluded income. See instructions and attach computation
43
Subtract line 42 from line 41. 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
89,000
43
Taxpayers Claiming the Housing Deduction—Complete this part only if (a) line 31 is more than line
Part IX
34 and (b) line 27 is more than line 41.
44
44
Subtract line 34 from line 31
45
45
Subtract line 41 from line 27
46
46
Enter the smaller of line 44 or line 45
Note: If line 45 is more than line 46 and you could not deduct all of your 2000 housing deduction
because of the 2000 limit, use the worksheet on page 4 of the instructions to figure the
amount to enter on line 47. Otherwise, go to line 48.
47
47
Housing deduction carryover from 2000 (from worksheet on page 4 of the instructions)
48
Housing deduction. Add lines 46 and 47. Enter the total here and on Form 1040 to the left of
line 32. Next to the amount on Form 1040, enter “Form 2555.” Add it to the total adjustments
reported on that line
48
2555
Form
(2001)
Page 26
Chapter 4 Foreign Earned Income and Housing: Exclusion – Deduction
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