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Required information [The following information applies to the questions displayed below.] Fred currently earns $11,300 per month. Fred has been offered the chance to
Required information [The following information applies to the questions displayed below.] Fred currently earns $11,300 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 $12,300 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $105,900. (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.) a-1. How much U.S. gross income will Fred report if he accepts the assignment abroad on January 1 of next year and works overseas for the entire year? Income reported 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 returns home on July 1 of next year? Income reported 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. Income reported c-2. If Fred's employer also provides him free housing abroad (cost of $17,150 next year), how much of the $17,150 is excludable from Fred's income? Amount to be excluded
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