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      How does IRS apply tax on profit when the foreign currency is involved?

      Hi all, let's assume an American citizen (and tax resident) has bought the real estate in Thailand in 2015 for THB 300 000, which was US$ 100 000 in accordance with the THB/US$ exchange rate(*) for the date the deal was closed. In 2019 he sells this real estate for THB 350 000, which was US$ 90...

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