USA Foreign Earned Income

[meghanmeghan]

Hi there,
I am a little bit confused if I am able to qualify. I am pretty sure I am but just wanted to double check. I have been following Pub 54.. (page 20)

I was qualified for 2012 for both bona fied and physical but this year I was only outside the US for 244 days. The requirements say for a "part year exclusion" my tax-home needs to be foreign (it is) and meet either physical or bona fide residence test (I do for 244 days)

So I am allowed to deduct 97,400 multiplied by 244/365 correct?
Giving me $65,244.94 I can exclude.

Please let me know if I am missing something here, or this is acceptable.

Thanks Meghan

 

[The Finance Writer]

That's the correct prorata formula, Meghan. You are eligible for this part year exclusion covering the period that your tax home was in a foreign country.