Hello,

I'm married and have one child.
I'm going to file MFJ.

Since I moved to the states last year and I'll file as resident alien for the entire year using MFJ, I have to include the income in Korea.
I'll use 2555EZ to exclude the foreign earned income in Korea.
About 1/3 of total income in 2007 will be excluded by 2555EZ.

My question is,
The standard deduction (10,700) and exemption (10,200) is not changed if I file 2555EZ?
There is a description about child tax credit - the credit is recalcuated based on the ratio between foreign earned income and US based income.
But I cannot find such description about standard deduction and personal/dependent exemption.

Thank you in advance-

Start working on your tax return. When you actually face any problem, ask.

Your deductions will not change if you file Form 2555.

You will not be able to claim the foreign earned income exclusion because you will not qualify. You will be able to use the foreign tax credit.