Instructions 2555-2026

See details

4.8 out of 5

77 votes

The document provides instructions for Form 2555, which is used by U.S. citizens and resident aliens living abroad to claim the foreign earned income exclusion and housing exclusion or deduction for the tax year 2021. It outlines eligibility criteria, including the tax home test and either the bona fide residence test or physical presence test. Key updates include an increased maximum exclusion amount of $108,700 for 2021. The document also details filing procedures, deadlines, and specific rules regarding income earned in foreign countries, including limitations on housing expenses.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out instructions 2555 with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open it in the editor.
Begin by entering your complete address in Part I, including city, state, and country. Ensure accuracy for proper processing.
In Part II, determine if you meet the bona fide residence test. Enter the dates of your residency and any family members living with you.
For Part III, confirm your physical presence in a foreign country for at least 330 full days within a 12-month period. Record these dates accurately.
In Part IV, report your total foreign earned income. Include all relevant compensation received during the tax year.
Complete Parts V through IX as applicable, ensuring to follow specific instructions for housing expenses and deductions.

Start using our platform today to easily fill out Form 2555 online for free!

See more instructions 2555 versions

We've got more versions of the instructions 2555 form. Select the right instructions 2555 version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2023	3.8 Satisfied (53 Votes)
2022	4.8 Satisfied (34 Votes)
2021	4.8 Satisfied (77 Votes)
2020	4.3 Satisfied (259 Votes)
2019	4.2 Satisfied (62 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Who is not qualified for a foreign earned income exclusion?

Not foreign earned income: Foreign earned income does not include the following amounts: Pay received as a military or civilian employee of the U.S. government or any of its agencies. Pay for services conducted in international waters or airspace (not a foreign country)

What is Form 2555 foreign earned income 2024?

Purpose: Form 2555 is used to claim the Foreign Earned Income Exclusion (FEIE), which allows U.S. citizens and resident aliens living abroad to exclude a portion of their foreign earned income from U.S. taxation. For 2024, the exclusion limit is up to $126,500.

What is the IRS form 2555 used for?

Form 2555. You must attach Form 2555, Foreign Earned Income, to your Form 1040 or 1040X to claim the foreign earned income exclusion, the foreign housing exclusion or the foreign housing deduction.

How do I know if I am qualified for a foreign earned income exclusion?

To qualify for the FEIE, you must meet all three of these requirements: Your tax home must be in a foreign country. You must have foreign-earned income. You must pass either the Bona Fide Residence Test or the Physical Presence Test.

Who needs to report foreign income?

If you own assets or investments overseas, including offshore bank accounts, you need to declare the relevant returns as if they were in Australia. This may include: interest from bank deposits or bonds. dividends from shares.

Who needs to fill out form 2555?

Who can use Form 2555? You must have foreign earned income and meet one of two residency tests in order to use Form 2555.

Who has to complete form 2555?

If you are working and/or living abroad and meet certain requirements, you may be eligible to use the Foreign Earned Income Exclusion. If you meet the requirements, you can complete Form 2555 to exclude your foreign wages or salary from income earned in the foreign country.

What expenses qualify for foreign housing exclusion?

Qualified housing expenses (exclusion) include rent, utilities (except telephone), property insurance, small repairs, and parking fees. To use the exclusion or deduction, your qualified housing expenses must exceed the base housing amount, which is 16% of the FEIE for the year.

Instructions 2555-2026

Here's how it works