You may be able to exclude up to $99,200 of your foreign earned income in 2014.
You cannot exclude more than the smaller of:
Your foreign earned income (discussed earlier) for the tax year minus your foreign housing exclusion (discussed later).
If both you and your spouse work abroad and each of you meets either the bona fide residence test or the physical presence test, you can each choose the foreign earned income exclusion. You do not both need to meet the same test. Together, you and your spouse can exclude as much as $198,400.
In layman's language, if you make more than the above mention figure, you have to pay taxes on the amount that surpasses the excludable AMT.
If are right or under the excludable AMT, all you do is file w/ithout a return.
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