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Investors & landlords
My apologies for not being more clear. You only report the transactions and income involving the PFICs from the date you became a U.S. person. You do not have to report any transactions prior to the date that you became a resident for tax purposes.
PFICs that you purchased prior to becoming a U.S. person are essentially treated as if you acquired them on that date.
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‎July 7, 2020
5:58 PM