For taxable year 2009, the maximum foreign earned income exclusion amount under § 911(b)(2)(D)(i) is $91,400, figured on a daily basis, times the number of days during the year that you meet the bona fide residence test or the physical presence test.
The foreign housing exclusion is calculated by deducting the “base amount” from your qualified foreign housing expenses (subject to the limits discussed below). The base amount is 16% of the maximum foreign earned income exclusion amount ($14,624 for 2009), figured on a daily basis, times the number of days during the year that you meet the bona fide residence test or the physical presence test. There is a limitation on the maximum amount of qualified housing expenses. This limit for most cities is 30% of the foreign earned income exclusion ($27,420 for 2009). However, there are numerous exceptions (cities with higher limits). These exceptions can found starting on Page 5 of the 2009 Form 2555 instructions.