Jesse Stone Is a Citizen and Bona Fide Resident of Great

question 99

Essay

Jesse Stone is a citizen and bona fide resident of Great Britain. During the current year, Jesse received the following income:
Compensation of $10 million from performing concerts in the United States
Cash dividends of $20,000 from a U.S. corporation
Interest of $1,000 from a U.S. citizen who is a resident of Ireland
Rent of $10,000 from British residents who rented Jesse's townhouse in Orlando, Florida
Gain of $50,000 on the sale of stock in a U.S. corporation
Determine the source (U.S. or foreign)of each item of income Jesse received.

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Definitions:

Diesel Fuel

A type of fuel derived from petroleum, used in diesel engines.

Gallons

A unit of volume for fluid measure equal to four quarts, used in the United States.

Minutes

A unit of time equal to sixty seconds or one-sixtieth of an hour.

Hours

A unit of time equal to 60 minutes.