Details Of 2010 Federal Income Taxes: Difference between revisions
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Revision as of 19:46, 10 June 2026
As the housing market began to slide three years ago, my wife we began to sense that we were losing our strategies. As people lose the value they always believed they had in their homes, their options in remarkable ability to qualify for loans begin to freeze up insanely. The worst part for us was, that we were in the real estate business, and we saw our incomes to help seriously drop. We never imagined we'd have collection agencies calling, but call, they did. Your end, we needed to pick one of two options - we could apply for bankruptcy, or we got to find ways to ditch all the retirement income planning we have ever done, and tap our retirement funds in some planned way. As you might guess, the latter is what we picked.
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Julie's total exclusion is $94,079. In her American expat tax return she also gets to claim a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. taxes.
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