Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

George is a U.S. citizen who is employed by Hawk Enterprises, a global company. Beginning on June 1, 2018, George began working in London (for

image text in transcribed

George is a U.S. citizen who is employed by Hawk Enterprises, a global company. Beginning on June 1, 2018, George began working in London (for a total of 214 days in 2018). He worked there until January 31, 2019, when he transferred to Paris. He worked in Paris the remainder of 2019. His salary for the first five months of 2018 was $100,000, and it was earned in the United States. His salary for the remainder of 2018 was $175,000, and it was earned in London. George's 2019 salary from Hawk was $300,000, with part being earned in London and part being earned in Paris. Assume the 2019 indexed amount is the same as the 2018 indexed amount. Assume 365 days in a year. a. Is George eligible for the foreign income exclusion for 2018? b. Is George eligible for the foreign income exclusion for 2019 Carry any fractions out to four decimal places. Round your final answers to the nearest dollar. c. George's gross income for 2018 is d. George's gross income for 2019 is s George is a U.S. citizen who is employed by Hawk Enterprises, a global company. Beginning on June 1, 2018, George began working in London (for a total of 214 days in 2018). He worked there until January 31, 2019, when he transferred to Paris. He worked in Paris the remainder of 2019. His salary for the first five months of 2018 was $100,000, and it was earned in the United States. His salary for the remainder of 2018 was $175,000, and it was earned in London. George's 2019 salary from Hawk was $300,000, with part being earned in London and part being earned in Paris. Assume the 2019 indexed amount is the same as the 2018 indexed amount. Assume 365 days in a year. a. Is George eligible for the foreign income exclusion for 2018? b. Is George eligible for the foreign income exclusion for 2019 Carry any fractions out to four decimal places. Round your final answers to the nearest dollar. c. George's gross income for 2018 is d. George's gross income for 2019 is s

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services

Authors: By David N. Ricchiute

6th Edition

0324024029, 9780324024029

More Books

Students also viewed these Accounting questions

Question

1. Can you describe your core beliefs?

Answered: 1 week ago