Question: Mark is a U . S . citizen who has lived in the United States since birth. He owns stock with a fair market value

Mark is a U.S. citizen who has lived in the United States since birth. He owns stock with a fair market value of $3 million. His basis in the stock is $500,000. Mark decides to relinquish his U.S. citizenship to move to Singapore. What are the U.S. tax consequences of this action?

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