US Citizen Patrick Is a Bona Fide Resident of a Foreign

question 16

Multiple Choice

U.S. citizen Patrick is a bona fide resident of a foreign country for all of the current year. Patrick uses a calendar year as his tax year. He has $100,000 of self-employment income and incurs $20,000 in housing expenses. The base housing cost amount is $17,216. The deduction for housing expenses is

• A)$16,624 for AGI.
• B)$16,624 from AGI.
• C)$2,784 for AGI.
• D)$6,816 from AGI.

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Definitions:

Average Life Expectancy

An estimate of the average number of years an individual or group of people is expected to live, based on statistical averages.

Complex Societies

Societies characterized by large populations, social stratification, centralized governance, and the presence of symbolic systems like writing.

Formal Education

Structured learning provided by officially recognized schools, colleges, and universities, typically leading to certification or a degree.

Palo Alto

A city in California, known for its significant role in technology development due to its proximity to Stanford University and Silicon Valley.