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T , a citizen of Argentina, had never visited the U . S . until February 1 , 2 0 2 4 and although T
T a citizen of Argentina, had never visited the US until February and although T intended to remain in the US for only months before T visited, T was having such a nice time that T remained in the US through September when he returned home to Argentina. In need of money while in the US on July T sold shares in Argento, SA an Argentine public company, for $ T bought his shares in for $ and when T arrived in the US on February Ts shares were worth $
Ts US income tax consequences will be:
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T will have a longterm capital loss of $
T will be exempt from US income tax as to the sale of his Argento, SA shares.
Ts US income tax will be of his amount realized from the sale of his Argento, SA shares.
T will have a longterm capital gain of $
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