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    jammon04's Avatar
    jammon04 Posts: 1, Reputation: 1
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    #1

    Mar 27, 2013, 05:29 PM
    IRS forms 2555
    Hi, My question is about the Form 2555.

    I was terminated from my overseas job in Jun 12. The 2555 instructions states that I can use any period for my 12 month stay in a foreign country; the Physical Presence Test for line 16. I want to use Jun 11 through Jun 12 as my 366 days. I have worked in the foreign country since 2007.

    Will that satisfy the Physical Presence Test and allow me to exclude my overseas pay which is way less than the $ 95,100 max earn income?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Mar 27, 2013, 07:55 PM
    If you claimed the exclusion for the 2011 tax return, then you CANNOT claim the exclusion from June 2011 to June 2012.

    However, since you never returned to the United States, you can pro-rate the exclusion for the six month period you were outside the United States in 2012, using about half of $95,000 exclusion.
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