Foreign Earned Income Exclusion for US Expats in Singapore.

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If you meet certain requirements, you may qualify for the foreign earned income exclusion, the foreign housing exclusion, and/or the foreign housing deduction. To claim these benefits, you must have foreign earned income, your tax home must be in a foreign country, and you must be one of the following:
A U.S. citizen who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year,
A U.S. resident alien who is a citizen or national of a country with which the United States has an income tax treaty in effect and who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year, or
A U.S. citizen or a U.S. resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months.

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DERREN JOSEPH:
I'm a US citizen who's lived in Singapore for the entirety of 2021. Does that qualify me as a bona fide resident of Singapore? Does that mean that I can travel back to the US for more than 35 days in 2022 without incurring additional taxes? So, right. So just to create context, the most attractive benefit of a US person being a US person outside of the US is of course the Foreign and income Exclusion, which is, under section nine 11. The two ways of qualifying for that one will be the Bon five resident test and there's a physical presence test this allows you to exclude, you still declare the money, but it won't be subject to federal taxes. It moves up with inflation each year for 2021, which I think is like 112,000. So when you put in that hundred 12,000 plus your standard deduction, assuming you're married, which is maybe 24, 20 5,000, plus your housing, assuming that you're renting. So it could be as much as 150, $160,000 that you still, report, but it won't be subject to US taxes. So this is a really important benefit. So as we mentioned that two ways of quantifying the bonafide resident test and the physical presence, the physical presence is objective and quantifiable and it's quantitative. The bonafide residents' test is subjective and qualitative. So I serve the easy one, which is APPT, the physical presence test under use, basically staying out of the US and not being in US air space for more than 30, 35 days. You qualify to exclude that income, as we previously mentioned, right? So that is just a pure days test remaining outside of the US and not being in USA space for more than that.
Alpha mentioned several days, the bonafide residents' test was one you asked specifically about, and I know why you're asking because it is subjective and it is qualitative. You know, it's not black and white. It is, it is a test of intent if you will. Where's your heart? Where's your center of life? And by the questions on form 25 55, they're challenging you to demonstrate that your center of life has moved outside of the US and you have done so for a full calendar year from Jan to December.


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