Todd and Audrey currently live in Thailand. They moved there on January 15, 2019 and currently rent
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Question:
| False |
Interview Notes
| C. Both a and b |
International Scenario 2: Eric and Tamara Fisher | |
Interview Notes
| D. Tamara’s worldwide income must be reported on the return. |
Interview Notes
| D. All of the above |
Interview Notes
| True |
Interview Notes
| D. Both a and b |
International Scenario 3: William Webster | |
7. The amount of William’s foreign earned income exclusion is $________. (Do not enter dollar signs, commas, periods, or decimal points in your answer.) | 107,600 |
8. Which of the following statements is true? William does not have to report his interest income from Nordian-Actavio Bank because: | D. None of the above. He must report his worldwide income, which includes his interest income. |
9. Which sources of William’s income are classified as passive category income? | C. Interest income from Nordian-Actavio Bank |
10. Which source of William’s income qualifies for the foreign earned income exclusion? | B. Wages from the coffee shop |
11. William does not meet the requirements of the bona fide residence test and cannot exclude his foreign earned income. | False |
12. Which of the following statements are false? | D. William has both passive and general foreign income. |
13. William must include the amount of foreign tax paid to Finland as withheld federal income taxes. | True |
14. Which of the following statements is true? | D. All of the above. |
15. What is the amount of foreign taxes paid on interest income, converted to U.S. dollars? $________. (Round to the nearest dollar). (Do not enter dollar signs, commas, periods, or decimal points in your answer.) | 10,550 |
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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