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AAFM CTEP Exam - Topic 4 Question 39 Discussion

US citizens or permanent resident who has established a foreign tax home and has met certain qualifications can elect to exclude annual foreign earned income up to _________from taxable income in 2013.
B) $97,600
A) $95,000
C) $98,000
D) $98,600

AAFM CTEP Exam - Topic 4 Question 39 Discussion

Actual exam question for AAFM's CTEP exam
Question #: 39
Topic #: 4
[All CTEP Questions]

US citizens or permanent resident who has established a foreign tax home and has met certain qualifications can elect to exclude annual foreign earned income up to _________from taxable income in 2013.

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Suggested Answer: B

by Janae at May 01, 2024, 05:46 AM

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Lashonda
9 months ago
I agree, $95,000 sounds right!
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Minna
10 months ago
I thought it was $97,600... can anyone confirm?
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Marsha
10 months ago
Wait, are you sure? I thought it was higher.
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Melvin
10 months ago
Definitely A, I remember that limit.
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Toshia
10 months ago
It's $95,000 for 2013!
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Elly
11 months ago
I’m torn between $95,000 and $98,600. I should have reviewed those numbers more closely!
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Donte
11 months ago
I feel like I saw $98,600 in one of the practice tests, but I could be mixing it up with another year.
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Bulah
11 months ago
I remember practicing a question like this, and I think it was $97,600 for 2013.
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Jennifer
11 months ago
I think the exclusion amount was around $95,000, but I’m not completely sure.
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Esteban
11 months ago
Hmm, I'm not entirely sure about this. I'll need to review my notes on foreign tax rules to refresh my memory before committing to an answer.
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Cristy
11 months ago
This seems straightforward. The exclusion limit is updated annually, and in 2013 it was $97,600, so the correct answer is B.
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Marguerita
11 months ago
I'm a bit confused on the specifics of this exclusion. Let me double-check the IRS guidelines to make sure I understand the requirements and limits before selecting an answer.
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Deangelo
11 months ago
Okay, I think I know this one. The foreign earned income exclusion limit was increased to $97,600 for 2013, so the answer should be B.
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Portia
11 months ago
Hmm, this looks like a tricky tax question. I'll need to carefully review the details on foreign earned income exclusions to determine the correct answer.
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Dannette
11 months ago
Okay, let's see. The checkbox is grayed out, so that means there's some kind of dependency or prerequisite that's not being met. I'll have to analyze the options closely.
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Colette
11 months ago
Okay, I think I've got a plan. First, I'll create an access group for the Accounts Payable and General Ledger teams. Then I'll configure the financial period close workspace tasks to only allow those teams to access it. That should do the trick!
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Christiane
12 months ago
Okay, let me think this through. The pre-conditions and expected result are definitely key for an effective test case. I'm not sure about the other choices, but I'll make my best guess.
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Adell
1 year ago
Ah, the joys of tax law. At least the options are easy to remember - A, B, C, or D. No trick questions here!
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Bambi
1 year ago
C) $98,000
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Jovita
1 year ago
B) $97,600
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Sanjuana
1 year ago
A) $95,000
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Rebbecca
1 year ago
This question is a real brain-teaser. I'm going to have to consult my magic 8-ball on this one.
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Magda
1 year ago
I believe it's D) $98,600.
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Gerald
1 year ago
I'm not sure, maybe it's C) $98,000?
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Ligia
1 year ago
I think the answer is B) $97,600.
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Jesusa
1 year ago
$95,000? That's a bit low, don't you think? I'm leaning towards C) $98,000.
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Kati
1 year ago
I'm going with C) $98,000 as well. It seems like a reasonable choice.
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Ahmad
1 year ago
I believe it's D) $98,600. That seems like the right amount to exclude.
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Brynn
1 year ago
I'm not sure, but I think it's either B) $97,600 or C) $98,000.
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Carlota
1 year ago
I agree, $95,000 does seem low. I think C) $98,000 is a better choice.
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Latosha
1 year ago
Hmm, I thought it was $98,600 for 2013. I better double-check my tax code.
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Oneida
1 year ago
Ah, the elusive foreign tax home exclusion. This is a tricky one, but I'm pretty sure the answer is B) $97,600.
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Tanja
1 year ago
I remember studying this, and I agree with you, it's B) $97,600.
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Catina
1 year ago
I think you're right, it's B) $97,600.
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Tran
1 year ago
I'm not sure, but I think it might be C) $98,000. It's a close call.
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Dong
1 year ago
I agree with Mi, because that amount seems reasonable for exclusion.
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Mi
1 year ago
I think the answer is B) $97,600.
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