I always exclude my foreign employment income on for 2555 but last year I also received unemployment compensation (also in a foreign country). Can it be excluded on form 2555 or does it get claimed somewhere else?
You'll need to sign in or create an account to connect with an expert.
Yes you can claim a foreign earned income exclusion for foreign severance /unemployment income.
Yes you can claim a foreign earned income exclusion for foreign severance /unemployment income.
Why do you say that? IRS guidance states that severance pay, if based on accrued leave time can be be included in the Foreign Earned Income Exclusion. However, it also states that severance pay that is not based on accrued leave time and Supplemental Security Income (SSI) Unemployment Insurance can not.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
terrys-mail2
New Member
RLG17
Level 1
hook2151
New Member
none31
New Member
jrajh1966
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.