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My understanding is if you are able to claim the Foreign Earned Income Exclusion then you wouldn't owe any US Taxes (unless over the $103,900 for 2018), but hav
by dustintownsend 8y ago
My understanding is if you are able to claim the Foreign Earned Income Exclusion then you wouldn't owe any US Taxes (unless over the $103,900 for 2018), but haven't done this myself and agree that an accountant would need to be in the mix for US Citizens living overseas.
Here is another link if anyone is interested: https://www.greenbacktaxservices.com/blog/foreign-earned-income-exclusion-understanding-form-2555/ https://www.greenbacktaxservices.com/blog/foreign-earned-inc...
- maehwasu 8y agoYou are correct. It's also quite easy to claim.
- jsjohnst 8y agoYep! That’s one of the nuances I was referring too.
- Scoundreller 8y agoIt gets trickier with investments and retirement funds (“foreign trusts”). E.g. selling your own home in Canada doesn’t trigger capital gains, but it can on your US tax return.