Overview, Part 6:  Expats and Foreign Currency
Channel: International Tax
Date: 2017-11-18

OV P6 Key
Learn the very basics of US taxation of expats (citizens or residents living outside the USA) and translating from foreign currency to dollars.  Here's what I'll cover:
00:00  Introduction
00:35  Foreign Earned Income Exclusion
01:06  Two tests for qualifying
02:09  Counting the days for physical presence test
02:48  Foreign currency
03:16  Functional currency
04:25  FX gain or loss
04:41  Translating income taxes

There are no quizzes for this part.

Resources:
Exclusion:  26 USC 911   
FX:  26 USC 985-989   

See sfoxcpa.com for the Counting the Days chart, available to download free.

See other videos listed in the information at the side.  There is a playlist covering Foreign Currency.