If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income.

However, you may qualify to exclude your foreign earnings from income up to an amount that is adjusted annually for inflation.

For 2019 the Foreign Earned Income Exclusion is $105,900 and $107,600 for 2020).

In addition, you can exclude or deduct certain foreign housing amounts.

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