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Line 17 ● Allowances or reimbursements if Note: If you claimed any deduction,
reported as income on Form 1040, line credit, or exclusion on your 1997 return
Enter the total foreign earned income you 7. that is definitely related to the 1997
earned and received in 1998. Report the Foreign earned income does not foreign earned income you are excluding
amount in U.S. dollars using the include— under this rule, you may have to amend
exchange rates in effect when you ● Amounts from line 12, column (d), your 1997 income tax return to adjust the
actually received the income. Be sure to amount claimed. To do this, file Form
● Amounts paid to you by the U.S.
report on Form 1040 all income you 1040X.
received in 1998 regardless of when you Government or any of its agencies if you
earned it. were an employee of the U.S.
Government or any of its agencies,
Income is earned in the year you Paperwork Reduction Act Notice. We
● Amounts that are actually a distribution
performed the services for which you ask for the information on this form to
received the pay. But if you received your of corporate earnings or profits rather than carry out the Internal Revenue laws of the
last wage or salary payment for 1997 in a reasonable allowance as compensation United States. You are required to give
1998 because of your employer's payroll for your personal services, or us the information. We need it to ensure
period, that income may be treated as ● Amounts received after the end of the
that you are complying with these laws
earned in 1998. If you cannot treat that tax year following the tax year in which and to allow us to figure and collect the
wage or salary payment as earned in you performed the services. right amount of tax.
1998, the rules explained on this page Income earned in prior year. Foreign You are not required to provide the
under Income earned in prior year earned income received in 1998 for information requested on a form that is
apply. See Pub. 54 for more details. services you performed in 1997 may be subject to the Paperwork Reduction Act
Foreign earned income. For purposes excluded from your 1998 gross income if, unless the form displays a valid OMB
of this form, foreign earned income means and to the extent, the income would have control number. Books or records relating
only the following types of income been excludable if you had received it in to a form or its instructions must be
received for personal services you 1997. retained as long as their contents may
performed in a foreign country during the If you are excluding income under this become material in the administration of
period for which you meet the tax home rule, do not include this income on line any Internal Revenue law. Generally, tax
test and either the bona fide residence 17. Instead, attach a statement to Form returns and return information are
test or the physical presence test. 2555-EZ showing how you figured the confidential, as required by Internal
● Wages, salaries, tips, and bonuses. exclusion. Enter the amount that would Revenue Code section 6103.
● Noncash income (such as a home or have been excludable in 1997 on Form The time needed to complete and file
car) if reported as income on Form 1040, 2555-EZ to the left of line 18. Next to the this form will vary depending on individual
line 7. amount enter “Exclusion of Income circumstances. The estimated average
Earned in 1997.” Include it in the total time is:
reported on line 18.
Recordkeeping ........................ 26 min.
List of Countries to Which Travel Restrictions Apply Learning about the law or the
form .......................................... 18 min.
Time Periods
Preparing the form ................. 42 min.
Copying, assembling, and
Country Beginning and Ending sending the form to the IRS .. 35 min.
If you have comments concerning the
Cuba January 1, 1987 Still in effect accuracy of these time estimates or
Iraq August 2, 1990 Still in effect suggestions for making this form simpler,
Libya January 1, 1987 Still in effect we would be happy to hear from you. See
the Instructions for Form 1040.
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