Identify Which of the Following Statements Is True

question 60

Multiple Choice

Identify which of the following statements is true.

• A)An individual who is physically present in a foreign country for 330 full days out of a 12-month period can claim the foreign-earned income exclusion only for the days in the 12-month period he/she is physically present in a foreign country.
• B)An individual, who is a bona fide resident of a foreign country for at least one full tax year, can claim the foreign-earned income exclusion for all days on which he/she is a resident of the foreign country and physically present in that country.
• C)Fringe benefits that are excluded from gross income under a Code Section other than Sec. 911 reduce the annual dollar ceiling for the foreign income exclusion.
• D)All of the above are false.

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Definitions:

Sunbelt

The label for an arc that stretched from the Carolinas to California. During the postwar era, much of the urban population growth occurred in this area.

Proposition 13

An amendment to the California Constitution passed in 1978, which limited the tax rate for real estate.

Sagebrush Rebellion

A movement starting in the 1970s among Western states in the U.S. opposing federal control of large amounts of state land and advocating for increased local control.

Jimmy Carter

Jimmy Carter was the 39th President of the United States (1977-1981) known for his commitment to human rights, the Camp David Accords, and the later years of the Cold War.