Section 987 gain loss

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  • Florida_EA
    Senior Member
    • Aug 2017
    • 153

    #1

    Section 987 gain loss

    When a foreign disregarded entity with a functional currency other than a US dollar has remittance then a section 987 gain loss is calculated and it is reported by the US owner of the DRE. If a US owner of a foreign trust (functional currency other than the US$) that files the Form 3520/3520A has a remittance then how is the gain loss calculated and reported by the US owner of the trust?
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