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Earned Income Exclusion and MFJ
Posted: Wed Oct 05, 2011 9:27 pm
by SetToGo
The current (2011) limit for exclusion is $92,900 per person. If Married Filing Jointly, it will be double. The question is if one spouse earns $100K and other say $50K, do you exclude all of the earned income $150K or just $142,900 ($92,900+$50,000)?
Earned Income Exclusion and MFJ
Posted: Fri Oct 07, 2011 7:05 pm
by SetToGo
Anyone? Please!!
Earned Income Exclusion and MFJ
Posted: Thu Oct 20, 2011 9:05 pm
by r2maa
Looking at the Form 2555 instructions it appears each of you need to file it using two separate forms (even if MFJ).
So I guess it would be 92,900 + 50,000.
(There are other aspects like housing exclusion etc)
See the following to confirm for yourself:
http://www.irs.gov/pub/irs-pdf/i2555.pdf instructions for Part VII
http://www.irs.gov/pub/irs-pdf/f2555.pdf where it has already printed the exclusion max amount.