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Analyze the following scenario concerning the U. S. tax consequences of individuals from other countries: Harry is a citizen and resident of Saudi Arabia (the
Analyze the following scenario concerning the U. S. tax consequences of individuals from other countries: Harry is a citizen and resident of Saudi Arabia (the United States does not have an income tax treaty with Saudi Arabia). During the current year, Harry never visits the United States nor does he hold a green card. However, he received a dividend from Micro Corporation, received interest on a bond issued by MBI Corporation, realized a gain on the sale of Extel Corporation stock, and realized a gain on the sale of 1,000 acres of undeveloped land located in Texas. Micro, MBI and Extel are all corporations organized in the United States. Discuss the U.S. tax consequences of each of the above items of income. Also, indicate how your answers would change if Harry held a green card
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