TAX4001 Ch 5 HW A Saved 4 ! Required information Part 1 of 3 (The following information applies to the questions displayed below.) Fred currently earns $11,500 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 $12,500 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $108,700. 16.66 points eBook 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? Print References Income reported 5 Required information (The following information applies to the questions displayed below.) Part 2 of 3 Fred currently earns $11,500 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 $12,500 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $108,700. 16.66 points Skipped a-2. If Fred's employer also provides him free housing abroad (cost of $22,500), how much of the $22,500 is excludable from Fred's income? eBook Print Amount to be excluded References 6 ! Required information [The following information applies to the questions displayed below.) Part 3 of 3 Fred currently earns $11,500 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 $12,500 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $108,700. 16.7 points Skipped 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? eBook Print Income reported References