Rev. 2023
This document provides instructions on how to complete Form 2555 (2023) for U.S. citizens or residents abroad who want to claim the Foreign Earned Income Exclusion, the Housing Exclusion or Deduction, or both. The form helps determine the amount of income subject to tax and the corresponding deductions. It also guides users on attaching necessary computations.
The amount you can deduct for housing expenses depends on whether or not you use your home for business. If you do not use your home for business, the maximum amount you can deduct is $1,000. If you use your home for business, the maximum amount you can deduct is $4,170.
You may deduct reasonable non-business travel expenses for the day of departure and the return trip. The total number of days you may claim is limited to your total business miles for the year.
$4,170 if you use your home for business or $1,000 if you do not use your home for business.
$0 if you do not use your car for business. If you do use your car for business, you may deduct $.16 per mile.
$2,700 if you use your home for business. The total amount you may deduct is limited to $2,700, even if your expenses are more than this.
$0.16 per mile driven for business use of a car or other vehicle.
Form 2555 is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
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