Question

Required information [The following information applies to the questions displayed below.] Fred currently earns $9,000 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $12,000 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $120,000. Suppose that Fred's employer has offered Fred a six-month overseas assignment beginning on January 1 of next ear. How much U.S. gross income will Fred report next year if he accepts the six-month assignment abroad and turns home on July 1 of next year? Required information [The following information applies to the questions displayed below.] Fred currently earns $9,000 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $12,000 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $120,000. -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 red will be abroad for 305 days out of 365 days next year. Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount. Required information [The following information applies to the questions displayed below.] Fred currently earns $9,000 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $12,000 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $120,000. -1. How much U.S. gross income will Fred report if he accepts the assignment abroad on January 1 of next year and orks overseas for the entire year