Have a Tax Question? Ask a Tax Expert
Hello and thank you for using Just Answer,As a resident aalien of the US you are taxed on your worldwide income. Even if you are out of theUS working you will still be required to report all your income. You can use all the tax creidts and exclusions like US citizens, this includes the Foreign Income Exclusion. This would mean that you could exclude up to $95,100 for 2012.
To claim the foreign earned income exclusion, the foreign housing exclusion, or the foreign housing deduction, you must have foreign earned income, your tax home must be in a foreign country, and you must be one of the following:
If you claim exclusion under the physical presence test, be sure to insert the beginning and ending dates of your 12-month period and the dates of your arrivals and departures, as requested in the travel schedule in Part III.
We have recently implemented a new rating and feedback system. Please be aware that you are rating my courtesy and service as a professional, and not necessarily whether you like the information that you are receiving.
In short you file your 1040 form an dattach the 2555 form to exclude income if you meet the requirements listed above.