Tax Benefits of Form 2555: Foreign Earned Income Exclusion

Foreign Earned Income Exclusion (FEIE) Calculator

Estimate your potential U.S. tax savings for living and working abroad. This tool helps you see if you qualify and how much you might be able to exclude.

1 Qualification

First, let's see if you meet the basic requirements. You must meet the Tax Home Test and EITHER the Bona Fide Residence Test OR the Physical Presence Test.

Is your tax home in a foreign country?

Your tax home is your main place of business or employment.

Yes No

Which residency test do you plan to use?

Bona Fide Residence Test Physical Presence Test

Have you been a resident of a foreign country for an uninterrupted period that includes a full U.S. tax year?

Yes No

Were you physically present in a foreign country for at least 330 full days during a 12-month period?

Yes No

2 Income & Housing

Enter your total foreign earned income and housing expenses for the year in U.S. dollars.

Total Foreign Earned Income

Number of Qualifying Days in Tax Year

Qualified Housing Expenses

Rent, utilities, repairs, etc.

Employer-Provided Housing Amount

Portion of your income for housing.

3 Estimated Results

Foreign Earned Income Exclusion

$0

Foreign Housing Exclusion

$0

Total Excluded Income

$0

Important Considerations:

• You cannot claim a Foreign Tax Credit on the income you exclude here.
• Claiming this exclusion may prevent you from taking certain other credits, like the Earned Income Credit.
• This calculator provides an estimate. The actual limits for housing can vary based on your specific location.

This tool is for informational purposes only and is based on 2024 tax rules. It is not tax advice. Consult a qualified professional for guidance on your specific circumstances.