Filing Form 2555 – Part 2

By: Pete
Date posted: 12.26.2011 (5:00 am) | Write a Comment  (0 Comments)

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Last week, I did write a bit about form 2555, but I did end up spending most of my time looking into which deductions I did need to file for, whereas today I was able to fly through the filing of form 2555.  The IRS does provide very good example from this page. What I ended up doing was using those examples along with the IRS instructions for form 2555.

The Part 1 is simply information about where I live, where I work, etc. That turned out to be very simple to do.

Then, I could qualify for the credits either under the Bona Fide Residence Test or the Taxpayers Qualifying Under Physical Presence Test. The 2nd one seemed easier to do so I chose that one. It did turn out to be easy apart from finding the dates of my 2010 trips.

Finally, in the income part, I simply wrote down that same amount that I had determined in form 1040:

I then decided not to file for a housing exclusion (as discussed last week) in part V which helped me skip part VI.


Then, I did file part VII which was fairly easy since I did qualify for 365 days, so for the full credit of $91,500 which did end up giving me a credit I can report to form 1040.

Next week, I will be looking into filing form 1116.

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