NeNe Is an Accountant and a U

question 78

Multiple Choice

NeNe is an accountant and a U.S.citizen who has accepted a permanent position in Madrid,Spain,for a Spanish financial services company.This year,NeNe spent the entire year working in Madrid.NeNe's employer paid $40,000 of her Madrid housing expenses this year.What amount of the $40,000 housing payments may NeNe exclude?

• A)NeNe can exclude all of the housing payment because she worked more than 330 days overseas.
• B)$16,944
• C)$23,056
• D)$14,826
• E)None of her salary can be excluded from gross income.

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Definitions:

Chemical Compound

A substance formed from two or more elements chemically united in fixed proportions.

Genes

The basic physical and functional units of heredity, made up of DNA sequences that instruct how organisms are built and function.

Hereditary Characteristics

Traits and features that are passed from parents to offspring through genes.

Negatively Charged Particle

An elementary particle with a negative electric charge, such as an electron.