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During 2001 and the first half of 2002, in California Myron
and Thelma also maintained bank accounts, registered and garaged
two vehicles at a relative’s property, and maintained their
driver’s licenses.
Myron and Thelma’s combined salaries from their employment
on the yacht totaled $82,768 for 2001 and $71,063 for 2002.
On petitioners’ 2001 joint Federal income tax return,
petitioners reported their total $82,768 in salaries, and they
claimed the foreign earned income exclusion with regard to that
total amount. With the filing of their 2001 joint Federal income
tax return, petitioners included a Form 2555-EZ, Foreign Earned
Income Exclusion, relating to each petitioner. On these Forms
2555-EZ, petitioners entered the address of a relative in
California in the blanks for “foreign address” and indicated an
applicable period of January 1 to November 30, 2001.
On petitioners’ 2002 joint Federal income tax return,
petitioners reported their total $71,063 in salaries, and they
claimed the foreign earned income exclusion with regard to
$55,120 thereof (based on the number of days in petitioners’ 2002
applicable period that fell within petitioners’ 2002 taxable
year).
With the filing of their 2002 joint Federal income tax
return, petitioners included a Form 2555-EZ relating to each
petitioner. On these Forms 2555-EZ, petitioners entered the
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Last modified: May 25, 2011