T, a citizen of Argentina, had never visited the U.S. until February 1, 2023 and although T intended to remain in the U.S. for only 2 months before T visited, T was having such a nice time that T remained in the U.S. through September 30, 2023 when he returned home to Argentina.  In need of money while in the U.S., on July 15, 2023, T sold shares in Argento, S.A., an Argentine public company, for $400,000.  T bought his shares in 2020 for $150,000 and when T arrived in the U.S. on February 1, 2023, T's shares were worth $420,000.

T's U.S. income tax consequences will be:

Group of answer choices

T will have a long-term capital loss of $20,000.

 

T will be exempt from U.S. income tax as to the sale of his Argento, S.A. shares.

 

T's U.S. income tax will be 30% of his amount realized from the sale of his Argento, S.A. shares.

 

T will have a long-term capital gain of $250,000.

 

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