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In January 2018, Sonja Deposited $20,000 in a bank in the Bahamas. She earned $500 Interest income. She closed the Account in December 2018. a.

In January 2018, Sonja Deposited $20,000 in a bank in the Bahamas. She earned $500 Interest income. She closed the Account in December 2018.

a. Is Sonja subject to the FBAR reporting requirement?

b. Is the Interest Income taxable in the United States?

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