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Anna35 [415]
3 years ago
14

Mio was transferred from New York to Germany. He lived and worked in Germany for 340 days in 2020. Mio's salary for 2020 is $190

,000. Assume a 366-day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739 and converted to 47.39%. If required, round your final answer to the nearest dollar. What is Mio's foreign earned income exclusion
Business
1 answer:
vfiekz [6]3 years ago
7 0

Answer:

Mio's foreign earned income exclusion is $99,960

Explanation:

The calculation of the Mio's foreign earned income exclusion is given below:

The foreign earned income exclusion limit for 2020 is $107,600

Now the foreign earned income exclusion depend on days equivalent to

=  Foreign earned income exclusion limit × (2020 days ÷ total number of days in a year)

= $107,600 × (340 days ÷ 366 days)

= $99,960

Hence, Mio's foreign earned income exclusion is $99,960

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