SECTION 2. BACKGROUND

.01 Section 911(a) of the Code allows a “qualified individual,” as defined in § 911(d)(1), to exclude foreign earned income and housing cost amounts from gross income. Section 911(c)(4) of the Code allows a qualified individual to deduct housing cost amounts from gross income.

.02 Section 911(d)(1) of the Code defines the term “qualified individual” as an individual whose tax home is in a foreign country and who is (A) a citizen of the United States and establishes to the satisfaction of the Secretary of the Treasury that

The instructions for the Form 1040 series provide tables showing the amount of the earned income credit for each type of taxpayer.

.12 Qualified Transportation Fringe . For taxable years beginning in 2009, the monthly limitation under § 132(f)(2)(A) for months beginning after February 17, 2009, regarding the aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass, and under § 132(f)(2)(B), regarding the fringe benefit exclusion amount for qualified parking, is $230. For January and February 2009, the monthly limitation under § 132(f)(2)(A) is $120 and the monthly limitation under § 132(f)(2)(B) is $230.

.20 Election to Expense Certain Depre- ciable Assets . For taxable years beginning in 2009, under § 179(b)(1) the aggregate cost of any § 179 property a taxpayer may elect to treat as an expense cannot exceed $250,000. Under § 179(b)(2) the $250,000 limitation is reduced (but not below zero) by the amount by which the cost of § 179 property placed in service during the 2009 taxable year exceeds $800,000.