NeNe Is an Accountant and U

question 31

Multiple Choice

NeNe is an accountant and 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) 16,336.
• C) 23,664.
• D) 14,294.
• E) None of her salary can be excluded from gross income.

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Definitions:

Objective Test

A standard or criteria based on factual measures, independent of personal feelings or opinions, used to assess a person's situation or actions.

Duress

A situation where a person performs an act as a result of violence, threat, or other pressures against them, questioning the voluntariness of their decision.

Tort

A civil wrong that causes someone else to suffer loss or harm resulting in legal liability for the person who commits the tortious act.

Material Misrepresentation

False statements or omissions of fact that are so significant they affect a party's decision to enter into a contract.