John Elton is a citizen and bona fide resident of Great Britain (United Kingdom). During the current

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John Elton is a citizen and bona fide resident of Great Britain (United Kingdom). During the current year, John received the following income:
• Compensation of $30 million from performing concerts in the United States
• Cash dividends of $10,000 from a French corporation stock
• Interest of $6,000 on a U.S. corporation bond
• Interest of $2,000 on a loan made to a U.S. citizen residing in Australia
• Gain of $80,000 on the sale of stock in a U.S. corporation
Determine the source (U.S. or foreign) of each item of income John received.
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Taxation Of Individuals And Business Entities 2015

ISBN: 9780077862367

6th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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