Singapore Expats Forum
 

"Other Income" in IR8A for US IRS... (Fringe Benefit).

Discuss about the latest news & interesting topics, real life experience or other out of topic discussions with locals & expatriates in Singapore.
Post Reply
User avatar
PNGMK
Governor
Governor
Posts: 7443
Joined: Thu, 21 Mar 2013 9:06 pm
Location: Sinkapore

"Other Income" in IR8A for US IRS... (Fringe Benefit).

Post by PNGMK » Sun, 02 Apr 2017 10:24 am

SO receive 'other income' on IR8A (school fee subsidy for our daughter). Appears to be a 'fringe benefit' in US tax code. Presumably needs to be declared as 'income' - but does it fall under 'foreign earned income exclusion'?
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

earthfriendly
Manager
Manager
Posts: 2000
Joined: Sat, 20 Aug 2005 5:01 pm

Re: "Other Income" in IR8A for US IRS... (Fringe Benefit).

Post by earthfriendly » Sun, 02 Apr 2017 10:46 am

Try posting your question on this FB page. Owner of the site is a tax preparer who does returns for expatriates. I can't vouch for his work as I have never used his service.

https://www.facebook.com/groups/952367774780623/

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 37369
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 1
Location: Retired on the Little Red Dot

Re: "Other Income" in IR8A for US IRS... (Fringe Benefit).

Post by sundaymorningstaple » Sun, 02 Apr 2017 7:56 pm

PNGMK wrote:SO receive 'other income' on IR8A (school fee subsidy for our daughter). Appears to be a 'fringe benefit' in US tax code. Presumably needs to be declared as 'income' - but does it fall under 'foreign earned income exclusion'?
Yes.

from the instructions for form 2555 (Foreign Earned Income Exclusion)
https://www.irs.gov/pub/irs-pdf/i2555.pdf
Foreign earned income for this purpose means wages, salaries, professional fees, and other compensation received for personal services you performed in a foreign country during the period for which you meet the tax home test and either the bona fide residence test or the physical presence test. It also includes noncash income (such as a home or car) and allowances or reimbursements.

User avatar
PNGMK
Governor
Governor
Posts: 7443
Joined: Thu, 21 Mar 2013 9:06 pm
Location: Sinkapore

Re: "Other Income" in IR8A for US IRS... (Fringe Benefit).

Post by PNGMK » Sun, 02 Apr 2017 9:04 pm

Thanks - idiots at my wife's school told her otherwise ("you don't have to declare it"). Bloody unqualified idiots hired because they have connections...even I, a dumb oil field guy with a very old Australian biz degree went "Oooh really?"... Oh of course they don't want to declare it when they have FOUR kids because it will push them over the FEIE!
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “General Discussions”

Who is online

Users browsing this forum: No registered users and 5 guests