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| "L K Williams" <lanny[at]loxinfo.co.th> wrote: - quote - > A client wishes to make a contribution to a Roth IRA but all
I have researched this in the past. I can't give you a cite> of her earned income amounts to less than the available > exclusion. I have looked everywhere I can think to find the > IRS position on taking less than the full exclusion in order > to have taxable earned income. > In other words, she wants to take $4,000 less than her > actual salary as a foreign earned income exclusion. other than "there's no way to do it on the form," but she can't do it. It's all or nothing. -- Phil Marti Clarksburg, MD << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| A client wishes to make a contribution to a Roth IRA but all of her earned income amounts to less than the available exclusion. I have looked everywhere I can think to find the IRS position on taking less than the full exclusion in order to have taxable earned income. In other words, she wants to take $4,000 less than her actual salary as a foreign earned income exclusion. Thus, she could make a $4,000 contribution to her Roth. In all my years of working with expats, this has never come up before. I know that the exclusion is optional but is the amount of qualifying income also optional? Anyone have any comments? Lanny K. Williams, CPA Nawarat, Williams & Co., Ltd. Income Tax Services for Expatriate Americans << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| earned, exclusion, foreign, income |
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