@chrisgh , just to clear --
(a) for FEIE, the 12 month test period has to be a continuous and has to overlap the earnings period that you are trying exclude . Thus if your foreign earning period is June 2024 through Dec 2024 and you established a foreign tax home ( first full 24 hr. day abroad / in foreign country ) is say May 1st. 2024, then the earliest 12 month period is May1st , 2024 through May1st 2025 Now if you meet the physical presence test of 330 days abroad, you can exclude your earnings of June 2024 through December 2024 -- test period overlaps the earnings period.
(b) As long as you have a foreign tax home then the FATCA higher threshold applies. Thus the augmented threshold is valid as long as you have a foreign tax home on the last day of the year ( because it asks for the value at the end of the year plus a few ands/ifs/buts ).
Does this jibe with your analysis ? or thought process?
pk
