Question: Sam Smith is a citizen and bona fide resident of Great Britain (United Kingdom). During the current year, Sam received the following income: Compensation of

Sam Smith is a citizen and bona fide resident of Great Britain (United Kingdom). During the current year, Sam received the following income:

  • Compensation of $30 million from performing concerts in the United States.
  • Cash dividends of $10,000 from a French corporation stock.
  • Interest of $6,000 on a U.S. corporation bond.
  • Interest of $2,000 on a loan made to a U.S. citizen residing in Australia.
  • Gain of $80,000 on the sale of stock in a U.S. corporation.

Determine the source (U.S. or foreign) of each item of income Sam received.

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