Solved: How much can melanie exclude from income, Accounting Basics

How much can melanie exclude from income

Problem: Melanie, a U.S. citizen living in Paris, France, for the last three years earns a salary of $110,000 in 2006. Melanie's housing costs are $24,000 per year which is reasonable. If 16% of the GS-14 (step-1) salary is $11,000, how much can Melanie exclude from income?

a. $80,000

b. $91,000

c. $93,000

d. $104,000

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Melanie, a U.S. citizen living in Paris, France, for the last three years earns a salary of $110,000 in 2006. Melanie's housing costs are $24,000 per year which is reasonable. If 16% of the GS-14 (step-1) salary is $11,000, how much can Melanie ex

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: How much can melanie exclude from income

Reference No:- TGS01739149

Have a Question? (oR Write a Review)

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: How much can melanie exclude from income

Reference No:- TGS01739149

Recent Questions Asked Accounting Basics

Q : Discuss the proper tax treatment on the sale

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Q : Determine the cost recovery deduction

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Q : Offset against his passive activity income

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