Hey guys,
The IRS recently posted Rev. Proc. 2020-27 which changes how they will handle the Form 2555 Physical Presence Test (IRC 911(d)(4) , 330 Days in 12 Month Period).
For us folks who had to come home early due to Covid-19, this means we can still claim the Foreign Earned Income Exclusion if we were reasonably going to be there for the 330 days.
PDF of Form 2555 Covid-19 Changes
In my case, I arrived in the UK on September 18th, 2019, and had a 1-year employment contract which was going to end on November 4th, 2020.
When Covid-19 hit the streets, we came home early to the USA on March 22nd, 2020.
TurboTax, however, won't accept anything less than 330 days for the Form 2555 entries, and also will not let me enter anything manually into the Form before filing, in order to explain the circumstances.
Is TurboTax planning to include this update into Form 2555 in the Online edition of the software to handle the new Revenue Procedures?
Else, are there any work-arounds, or am I going to have to fill out the forms by hand and mail them?
Thanks everyone, and I hope this post helps someone else who's stuck in the same situation as I am!
-Ben
