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Posted by Larry Israel on March 25, 2007, 12:07 pm
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This is only theoretical, as I don't even reach the maximum
earned income exclusion. I am a permanent overseas resident,
owning my own home.
If I had enough foreign income to go over $82,400, could I
claim some of my housing costs such as utilities as a
foreign housing exclusion?
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Posted by A.G. Kalman on March 26, 2007, 11:16 am
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Larry Israel wrote:
> This is only theoretical, as I don't even reach the maximum
> earned income exclusion. I am a permanent overseas resident,
> owning my own home.
>
> If I had enough foreign income to go over $82,400, could I
> claim some of my housing costs such as utilities as a
> foreign housing exclusion?
See page 20 of IRS Pub 54. It has an exhaustive list of what
expenses qualify for the housing exclusion. Utilities are
listed. Utilities do not include telephone or paid
television subscriptions. Page 20 also explains how one
computes the housing amount. You have to subtract the base
amount from the qualified housing. In your case, the base
amount is $36.12 times the number of qualified days. For a
whole year, the base amount is $13,184.
http://www.irs.gov/pub/irs-pdf/p54.pdf
<< ======================================================= >>
<< 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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Posted by Frederick Lorca on March 26, 2007, 11:16 am
Please log in for more thread options > This is only theoretical, as I don't even reach the maximum
> earned income exclusion. I am a permanent overseas resident,
> owning my own home.
>
> If I had enough foreign income to go over $82,400, could I
> claim some of my housing costs such as utilities as a
> foreign housing exclusion?
The answer appears to be yes according to the information in
IRS Publication 54, starting on page 20. Column III lists
includible and non-includible housing expenses.
http://www.irs.gov/pub/irs-pdf/p54.pdf
Frederick Lorca
<< ======================================================= >>
<< 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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Posted by L K Williams on March 26, 2007, 11:16 am
Please log in for more thread options SLARRY@weizmann.weizmann.ac.il (Larry Israel) wrote:
> This is only theoretical, as I don't even reach the maximum
> earned income exclusion. I am a permanent overseas resident,
> owning my own home.
>
> If I had enough foreign income to go over $82,400, could I
> claim some of my housing costs such as utilities as a
> foreign housing exclusion?
It is doubtful you could get any benefit from such costs.
To begin with, you cannot include any costs of owning the
home. So, mortgage interest, property tax, and depreciation
are not allowed.
Second, there are both floors and ceilings on the
exclusion/deduction. The ancillary type expenses you are
talking about are unlikely to exceed the floor.
Probably not worth the effort to even try.
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. >>
<< ======================================================= >>
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