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I read that I am not liable to pay long-term capital gains tax on foreign investment income when there is no actual basis cost in USD (meaning the money had never been in USD) from Quora (https://www.quora.com/Foreign-currency-bank-account-when-and-how-is-the-exchange-rate-appreciation-taxed-by-the-IRS) I'd like to know the justifying tax code clause for it. … read more
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