Form 2555 - Foreign Income Exclusion

Forum|Forum|4 years ago
February 17, 2022
2 replies
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Hi everyone,

I have a customer who is qualified for the partial foreign income exclusion, but the system gave him the full exclusion.

Form 2555, Part VII, Line 38, does anyone know how to change from 365 days to the exact days we have without overriding this information? (When clicking to this line, it leads to Line 29 which has the default number - 365 days).

Thanks in advance.

Huy

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J

jeffmcpa2010

Level 10

Without looking up the form when you are claiming the # of days exclusion (Which does not have to be the calendar year by the way) there is an actual schedule you fill out which shows enter dates, exit date, and number of days spent in each country involved. There are special rules on travel days where you cross a border as well. you will need to read up on those to fill out the form correctly. As I recall the 2555 instructions were pretty helpful, but it has been a few years since I completed one.

After seeing sjrcpa's question - My answer is related to the physical presence test I believe, which I think is the only one I have ever used.

And the Schedule I referenced is part III top of page 2