34. A taxpayer is a US citizen who lived and work in France during the entire tax year all their income was earned outside the USA and consists of wages capital gain dividend interest is the following statement true about reporting income in this situation. A. Generally all the all of the income needs to be reported to the United States. US residents are required to report their worldwide income B. Only the passive income needs to be reported to United States since none of work was performed there.

34. A taxpayer is a US citizen who lived and work in France during the entire tax year all their income was earned outside the USA and consists of wages capital gain dividend interest is the following statement true about reporting income in this situation. A. Generally all the all of the income needs to be reported to the United States. US residents are required to report their worldwide income B. Only the passive income needs to be reported to United States since none of work was performed there.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter15: Choice Of Business Entity—other Considerations

Section: Chapter Questions

Problem 82P

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