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What happens when a U . S . citizen taxpayer sells non - exempt ( investment ) property in a foreign country for gain? Select
What happens when a US citizen taxpayer sells nonexempt
investment property in a foreign country for gain?
Select one:
a The difference between the taxpayer's purchase price
and sales price is reported as income
b The entire sale price is reported as income
c The taxpayer increases the basis of the original stock
d The taxpayer must report the ordinary income or
capital gain on their US tax return
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