Question
Exercise 5-21 (LO. 2) Mio was transferred from New York to Germany. a. He lived and worked in Germany for 340 days in 2020. Mio's
Exercise 5-21 (LO. 2)
Mio was transferred from New York to Germany.
a. He lived and worked in Germany for 340 days in 2020. Mio's salary for 2020 is $190,000.
Assume a 366-day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739 and converted to 47.39%. If required, round your final answer to the nearest dollar.
What is Mio's foreign earned income exclusion?
b. He lived and worked in Germany for 354 days in 2020. Mio's salary for 2020 is $262,400.
Assume a 366-day year. In your computation, round any division to four decimal places before converting to a percentage.
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