Are you a U.S. citizen (or resident alien) living abroad? If so, you may be able to elect to exclude your foreign earned income and housing costs from your gross income, subject to certain limitations. The housing cost exclusion is based in part on the number of days a person is physically present in the foreign location. For 2020 under the general limitations, the maximum housing expense for a taxpayer who was present the entire year in the foreign location is $32,280. The IRS allows a higher housing cost ceiling for those living in certain high-cost geographic locations (relative to the cost in the U.S). Here are details from the IRS: http://bit.ly/2I3k3Kn or contact us with questions.
