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To be eligible for the foreign earned income exclusion, you must have a tax home in a foreign country and be a U.S. citizen or resident alien.
Purpose of Form If you qualify, you can use Form 2555 to figure your foreign earned income exclusion and your housing exclusion or deduction. You cannot exclude or deduct more than the amount of your foreign earned income for the year.
Form 2555 shows how you qualify for the bona fide residence test or physical presence test, how much of your foreign earned income is excluded, and how to figure the amount of your allowable foreign housing exclusion or deduction.
The source of your earned income is the place where you perform the services for which you receive the income. Foreign earned income is income you receive for performing personal services in a foreign country. Where or how you are paid has no effect on the source of the income.
A U.S. citizen or a U.S. resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months.
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You must meet specific qualifications to claim the foreign earned income exclusion. You are a U.S citizen or resident alien. You have a qualifying presence in a foreign country. You have foreign earned income.
Form 2555 - Foreign Earned Income, used by taxpayers to claim the foreign-earned income exclusion, housing exclusion, and housing deduction. Form 1116 - Foreign Tax Credit, used by taxpayers to claim a credit against U.S. income tax liability for income taxes paid to a foreign jurisdiction.
Qualifying foreign taxes You can claim a credit only for foreign taxes that are imposed on you by a foreign country or U.S. possession. Generally, only income, war profits and excess profits taxes qualify for the credit.

irs form 2555 for 2020