Get the free Form 2555
Show details
This document provides instructions for U.S. citizens or resident aliens living abroad to exclude a limited amount of foreign earned income on their tax returns, as well as details on the housing
We are not affiliated with any brand or entity on this form
Get, Create, Make and Sign form 2555
Edit your form 2555 form online
Type text, complete fillable fields, insert images, highlight or blackout data for discretion, add comments, and more.
Add your legally-binding signature
Draw or type your signature, upload a signature image, or capture it with your digital camera.
Share your form instantly
Email, fax, or share your form 2555 form via URL. You can also download, print, or export forms to your preferred cloud storage service.
How to edit form 2555 online
To use the services of a skilled PDF editor, follow these steps:
1
Log in. Click Start Free Trial and create a profile if necessary.
2
Prepare a file. Use the Add New button to start a new project. Then, using your device, upload your file to the system by importing it from internal mail, the cloud, or adding its URL.
3
Edit form 2555. Add and change text, add new objects, move pages, add watermarks and page numbers, and more. Then click Done when you're done editing and go to the Documents tab to merge or split the file. If you want to lock or unlock the file, click the lock or unlock button.
4
Get your file. Select your file from the documents list and pick your export method. You may save it as a PDF, email it, or upload it to the cloud.
pdfFiller makes dealing with documents a breeze. Create an account to find out!
Uncompromising security for your PDF editing and eSignature needs
Your private information is safe with pdfFiller. We employ end-to-end encryption, secure cloud storage, and advanced access control to protect your documents and maintain regulatory compliance.
How to fill out form 2555
How to fill out Form 2555
01
Obtain a copy of Form 2555 from the IRS website.
02
Fill out your personal information in the top section, including your name and Social Security number.
03
Indicate your foreign address where specified.
04
Complete Part I by providing information about your foreign earned income and the tax home.
05
In Part II, calculate the foreign earned income exclusion by following the instructions based on your residency status and the duration of stay abroad.
06
Provide any necessary information in Part III if you qualify for the Housing Exclusion or Deduction.
07
Review the instructions carefully for any additional questions or specifications related to your situation.
08
Ensure all entries are accurate and double-check your calculations.
09
Submit the completed form with your federal tax return.
Who needs Form 2555?
01
U.S. citizens or resident aliens who earn income abroad and wish to exclude a portion of that income from U.S. taxation.
02
Individuals who have a tax home in a foreign country and meet the physical presence test or bona fide residence test.
03
Taxpayers who are seeking to claim the Foreign Earned Income Exclusion or the Housing Exclusion.
Fill
form
: Try Risk Free
People Also Ask about
How do I know if I qualify for the foreign tax credit?
You can claim a credit only for foreign taxes that are imposed on you by a foreign country or U.S. possession. Generally, only income, war profits and excess profits taxes qualify for the credit.
How do I get rid of foreign earned income and exclusion?
You can revoke your choice for any tax year. You do this by attaching a statement that you are revoking one or more previously made choices to the return or amended return for the first year that you do not wish to claim the exclusion(s). You must specify which choice(s) you are revoking.
Who qualifies for foreign earned income exclusion?
By excluding foreign-earned income from US taxation, the FEIE can help expats significantly reduce their US tax liability. To qualify for the foreign earned income tax exclusion, individuals must meet either the bona fide residence test or the physical presence test, and have a tax home in a foreign country.
Who needs to fill out form 2555?
U.S. Taxpayers living and working outside the United States may qualify to have a certain portion of their income excluded for U.S. tax purposes on IRS Form 2555. The foreign earned income exclusion is a method that taxpayers can use to exclude a certain portion of their income for tax purposes.
How much foreign income is tax free in the USA?
However, you may qualify to exclude your foreign earnings from income up to an amount that is adjusted annually for inflation ($107,600 for 2020, $108,700 for 2021, $112,000 for 2022, and $120,000 for 2023). In addition, you can exclude or deduct certain foreign housing amounts.
Do I need to file 2555 and 1116?
You cannot claim both the Foreign Tax Credit (Form 1116) and the Foreign Earned Income Exclusion (Form 2555) on the same dollar of income. If you exclude the income from your tax return, you cannot also claim a credit on that same income.
Does everyone have to fill out a tax form?
Generally, you must file an income tax return if you're a resident , part-year resident, or nonresident and: Are required to file a federal return. Receive income from a source in California.
Who qualifies for foreign earned income exclusion?
By excluding foreign-earned income from US taxation, the FEIE can help expats significantly reduce their US tax liability. To qualify for the foreign earned income tax exclusion, individuals must meet either the bona fide residence test or the physical presence test, and have a tax home in a foreign country.
How do I know if I qualify for foreign earned income exclusion?
To qualify for the foreign earned income tax exclusion, individuals must meet either the bona fide residence test or the physical presence test, and have a tax home in a foreign country.
Who has to fill out form 2555?
If you're a U.S. expat, you may be able to exclude foreign earned income from U.S. taxable income using IRS Form 2555. This form allows eligible taxpayers to claim the Foreign Earned Income Exclusion (FEIE), reducing or eliminating their U.S. tax liability on income earned abroad.
For pdfFiller’s FAQs
Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
What is Form 2555?
Form 2555 is a tax form used by U.S. citizens and resident aliens to report income earned abroad and to claim the Foreign Earned Income Exclusion (FEIE) as well as the Foreign Housing Exclusion or Deduction.
Who is required to file Form 2555?
U.S. citizens and resident aliens who have foreign income and wish to claim the Foreign Earned Income Exclusion or foreign housing exclusions must file Form 2555.
How to fill out Form 2555?
To fill out Form 2555, you need to provide information such as your personal data, foreign address, details of your foreign employment, the number of days you were present in a foreign country, and the total amount of foreign earned income.
What is the purpose of Form 2555?
The purpose of Form 2555 is to allow U.S. taxpayers who qualify to exclude a certain amount of their foreign earned income from U.S. taxation and to exclude or deduct eligible housing expenses.
What information must be reported on Form 2555?
Form 2555 requires reported information including your foreign earned income, foreign address, the number of days present in a foreign location, and any claimed housing exclusions or deductions.
Fill out your form 2555 online with pdfFiller!
pdfFiller is an end-to-end solution for managing, creating, and editing documents and forms in the cloud. Save time and hassle by preparing your tax forms online.
Form 2555 is not the form you're looking for?Search for another form here.
Relevant keywords
Related Forms
If you believe that this page should be taken down, please follow our DMCA take down process
here
.
This form may include fields for payment information. Data entered in these fields is not covered by PCI DSS compliance.
