LinaJ2020
Expert Alumni

Get your taxes done using TurboTax

As of today, the Form 2555 is expected to be available 2/18/2021.  To see updates of the forms, click here: Forms

 

If you have made any foreign income, you would use Form 2555 to calculate the excludable portion of your foreign income and the housing exclusion deduction while working on foreign soil.  For 2020, the maximum exclusion amount has increased to $107,600.  Due to the global health emergency caused by COVID-19, the IRS has provided relief related to the time requirement necessary to meet either the bona fide residence test or physical presence test.  To  learn more, click here: https://www.irs.gov/instructions/i2555

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