Thanks. So I am a legal alien on a L visa. But considered a taxable resident. I get that about reporting it to IRS. Thats fine. It thing about paying tax of a Exchange Rate Gain. Would make sense if i was living in the US when i bought the house abroad. But i bought while i was living abroud (my home country and before moving to the US). So why is there a Exchange Rate Gain there? Thanks a lot for all the answers.
