US Expat living as permanent resident overseas. I pay foreign income taxes.
Every year I file a 2555.
This year, TurboTax (TT) asked for me email because they haven't uploaded 2555T.
I'm confused. Is this the new version of 2555?
OR
Is it some other weird form that I don't need and should continue to use 2555, and delete 2555T?
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No, this is not a new version of the Form 2555. They are the same form. Form 2555 T means the Form 2555 for taxpayer and Form 2555 S is for spouse.
As of today, this form will not be available until February 2/11/2021. To check forms availability, click here: IRS forms
You would use Form 2555 to calculate the excludable portion of your foreign income that you made 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
No, this is not a new version of the Form 2555. They are the same form. Form 2555 T means the Form 2555 for taxpayer and Form 2555 S is for spouse.
As of today, this form will not be available until February 2/11/2021. To check forms availability, click here: IRS forms
You would use Form 2555 to calculate the excludable portion of your foreign income that you made 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
Thank you so much for clarifying. Your reply was super helpful!
Hey, it's custom here where I live to show deep thanks and
appreciation with a bow.. m(_ _)m
You are very welcome !
Form 2555-T is still broken as it it does not allow entry of a 0 (zero) days in Line 18 Column e for non-business return trips to the USA for funerals or vacation.
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