Hello
Guest

Sponsored Links


Topic: Not filing a 2555?  (Read 1233 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 78

  • Liked: 0
  • Joined: May 2006
Not filing a 2555?
« on: January 06, 2009, 07:14:15 PM »
Hi all, I have a possibly straightfoward question but it's one that just has my mind boggling with regards to filing my US taxes.  I worked in the UK for part of the year through BUNAC.  I do not qualify for the foreign earned income exclusion (as I have been in the US much more than 30 days :)).  Do I still file a 2555 along with my 1040, or just enter my UK earned wages on the 1040?


  • *
  • Posts: 108

  • Liked: 11
  • Joined: Jan 2009
Re: Not filing a 2555?
« Reply #1 on: January 06, 2009, 09:09:22 PM »
If you don't qualify for the foreign earned income exclusion, you should not include Form 2555 with your 1040.  Instead, you should claim the foreign tax credit for any U.K. taxes paid (Form 1116).


  • *
  • Posts: 78

  • Liked: 0
  • Joined: May 2006
Re: Not filing a 2555?
« Reply #2 on: January 06, 2009, 09:38:14 PM »
Thanks for the response!  As for the 1116 though, I saw it mentioned in this (http://talk.uk-yankee.com/index.php?topic=45873.0) thread that if a person uses the 1116, they can't file the 2555 for five years.  I will be eligible for the income exclusion for 2009 taxes (as I'm returning to the UK on a work permit) and therefore wanting to file a 2555 within the next five years...so from reading that I'd assume I wouldn't want to file a 1666?

Oh, I wish taxes didn't boggle my mind so much!


  • *
  • Posts: 1674

  • Liked: 5
  • Joined: Jul 2004
  • Location: Asia, but coming back to London
Re: Not filing a 2555?
« Reply #3 on: January 07, 2009, 12:05:23 AM »
The limitation on filing form 2555 for five years is only if you revoke the 2555 election.  If you don't qualify, you are not revoking.


  • *
  • Posts: 78

  • Liked: 0
  • Joined: May 2006
Re: Not filing a 2555?
« Reply #4 on: January 07, 2009, 12:17:55 AM »
Great, thank you!  I thought that (the revoking) might be what they were referring to in the other thread, but I wasn't sure.

Thanks for both of your responses :)


Sponsored Links