Taxation of u.s. citizens and residents (3 of 3) Foreign earned income exclusion(FED) U.S. taxpayers who are bona fide residents of another country may exclude $78,000 of foreign earned income Taxpayer must be a foreign resident for 330 days of the tax year before qualifying FEI limited to lesser of >Foreign earned income for current year OR >$78,000 X of qualifying days in current year 66 Taxation of U.S. Citizens and Residents(3 of 3) Foreign earned income exclusion (FEI) –U.S. taxpayers who are bona fide residents of another country may exclude $78,000 of foreign earned income –Taxpayer must be a foreign resident for 330 days of the tax year before qualifying –FEI limited to lesser of »Foreign earned income for current year OR »$78,000 x # of qualifying days in current year