25 Required information The following information applies to the questions diple

Question

25 Required information The following information applies to the questions dipleyed below Part 1 of 1 of Fred currertly eans $10,400 per month. Fred has been offlered the chance to transfer for three to five years to an overseas afflate His employer is wiling to pay Fred $11,400 per month if he accepts the assignment. Assume thet the maximum foreign-eamed income exclusion for next year ls $040 1 How much U.S gross income will Fred repont ithe accepts the ssignment atroad on Jenusry 1 of nest year and works oversess for the entire year? Prev 2526 27-29.32 Ei 7

Explanation / Answer

A-1: Fred will earn $ 136800 abroad out of which $ 104100 is excluded thus he would add 136800-104100 = $ 32700

A-2: 21400 - 16% of $ 104100 = 21400 – 16656 = $ 4744

B: 10400*6 + 11400*6 = 62400 + 68400 = $ 130800

C-1: 10400*2 + 11400*10 – {305/365 x 104100} = 134800 – 86987.67 = 47812.33

C-2: 104100x305/365x16% = $ 13918

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