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IRS Form 2555: Fill out with Smart Form Filler

Audrey Goodwin

2024-04-18 11:56:27 • Filed to: Other IRS Forms • Proven solutions

The IRS Form 2555 can be filled using PDF form filler software after you down load the PDF file from the internet. Only a few software can be used to fill up PDF forms but, users usually prefer the PDFelement. It is not only PDF form filler but also an all in one PDF solution.

Your Best Solution to Fill out IRS Form 2555

The IRS Form 2555 is used to figure out the amount of your foreign earned income exclusion and your housing exclusion or deduction. This form can be filled with Wondershare PDFelement - PDF Editor which is the best utility for PDF files.

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It has been positively reviewed by many users and certainly it is the best solution to fill your IRS Form 2555 with minimum effort. It can be used in both Mac and Windows and it has been built for performance.

Instructions for How to Complete IRS Form 2555

The following steps given below can guide you to show how to complete the IRS form 2555.

Step 1: You can get the IRS form 2555 from the official website of Department of the Treasury, Internal Revenue Service.

Step 2: Write your name and social security number on the top of the form.

Step 3: Start filling Part I of general information. On line 1, mention your foreign address and your occupation. The name of your employer should be written on line 2. You can easily fill up the address on line 4. For line 5, you must check in the appropriate option. Line 6, must be filled considering the previous submission of IRS form 2555. For line 7, you should mention your citizenship. Line 8, must include details about your foreign second home residence. On line 9, you have to List your tax home during your tax year and date they were established.

Part II, is called Taxpayers qualifying under bona fide residence test. On line 10, mention the date your bona fide residence began. Select the appropriate option for line 11.For line 12 and 13, you can follow the instruction and answer as yes or no. For line 14 , you will see a table to be filled, you have to mention al the details of your entry and exit from USA. On line 15, there are very basic details required to be filled on each of the subdivisions.

Step 4: Start filling Part III. On line 16, you have to mention the dates of your physical presence. For line 17, you have to enter your principal country of employment during your tax year. The line 18 , include a table to mention the details of your travel, you can follow the instructions to fill up the table.

After filling up the table, proceed to Part IV. On line 19, you have to enter the amount you earned abroad. From line 20 to 26 you can easily fill it up by following the given instructions. Proceed to Part V here you have to mention the total amount you calculated on line 26 and also select the appropriate choice for the given question.

Step 5: Proceed to Part VI. On line 28, you have to enter the amount of qualified housing expenses for the tax year. Enter the location and amount of housing expenses on line 29. For line 30, enter the smaller amount among line 28 or line 29.on line 31, enter the number of days in your qualifying period that fall within your 2015 tax year. Multiply $44.19 by line 31 and enter the amount on line 32. You can easily fill up line 33 to 36 by following the instructions. Proceed to Part VII, on line 37, mention the amount of maximum foreign earned income exclusion. For line 38, enter the value from line 31 if you have completed part VI or enter the number of days in your qualifying period. Line 39, 40, 41 and 42 can be easily filled up by following the instructions.

Step 6: Proceed to part VIII, on line 43, add the total of line 36 and 42. On line 43 enter the specific amount from Form 1040. For line 45, subtract line 44 from 43. There are also other necessary instructions given for this line.

Proceed to Part IX, on line 46, enter the amount by subtracting line 36 for line 33. On line 47, enter the amount by subtracting line 43 from line 27. Enter the smaller amount among line 46 or line 47 on line 48. On line 49, enter the amount of housing deduction carryover from the mentioned year. Add line 48 and 49 and enter it on line 50.

Tips and Warnings for IRS Form 2555

The instructions given must be read until it is clear, these forms have many aspects which are difficult to understand. The instructions are clear to understand and the calculations are divided separately throughout the form to reduce error from calculations. Never keep such work pending for the last day, if you submit such forms in a hurry you will surely make errors.
The IRS Form 2555 is used to calculate the amount of your foreign earned income exclusion and your housing exclusion or deduction. For an individual who is not a citizen of USA, it may be a difficult task to understand all the aspects; in that case he can take assistance from the treasury department.
There are various amounts or information which will be used in other forms related to IRS, make sure you have all of the materials required to support your information. The data provided will be confirmed by the Internal Revenue Service so make sure the data you are providing are valid. If any tax related form submitted is found with fake information, the government will take necessary steps against that person.