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please solve Fred curtently eams $9.000 per month. Fred has been offered the chance to transfer for three to five years to an overseas atfillate.
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Fred curtently eams $9.000 per month. Fred has been offered the chance to transfer for three to five years to an overseas atfillate. His employer Is willinn to nay Fred $10000 per month if he acrepts the assinnment. Assume that the maximum foreign-earned income exclusion for next year is $112000. Required: 0.1. How much US, gross income will Fred report if he accepts the assignment abroad on January 1 of next year and works overseas for the entire year? Q.2. If Fred's employer also provides him free housing abroad (cost of $20,000 ), how much of the $20,000 is excludable from Fred's income? b. Suppose that Fred's employer has offered Fred a six-month overseas assignment beginning on January 1 of next year. How much U.S. gross income will Fred report next year if he accepts the six-month assignment abroad and refurns home on July 1 of next year? c-1. Suppose that Fred's employer offers Fred a permanent overseas assignment beginning on March 1 of next year. How much U.S. gross income will Fred report next year if he accepts the permanent assignment abroad? Assume that Fred will be abroad for 305 days out of 365 days next year. Note: Do not round intermediate colculations. Round your final answer to the nearest whole dollor omount. c-2. If Fred's employer also provides him free housing abroad (cost of $16,000 next year), how much of the $16,000 is excludable from Fred's income? Assume that Fred will be abroad for 305 days out of 365 days next year: Note: Do not round intermediate colculations. Round your final answer to the nearest whole dollor amount Step by Step Solution
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