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

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PNGMK
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"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
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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/

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sundaymorningstaple
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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.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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PNGMK
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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!

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