Finance Questions? Ask a Financial Expert for Answers ASAP
Welcome to Just Answer. Let me breakdown your questions.
Is this true?
Yes you can exclude $97,600 or your foreign income for 2013. There is an extension available in order to meet the requirements.
Anything I should know?
Below is a link with the IRS details about this exclusion.
What is the maximum days I could visit the US during2013 or the 12 months from the date of my move?
To qualify you must be a U.S. citizen who is physically present in a foreign country or countries for at least 330 full days during any period of 12 con-secutive months.
So during the 12 months you can visit 35 days.
Also, would the deduction apply to total 2013 income or only the portion of it that I earn while living abroad?
You can only exclude foreign income.
Please let me know if you have any other questions before you rate my answer. A positive rating is what I strive for. Regards Dave