How are foreign-currency gains and losses on my U.S. LLC's intercompany payable to me as the foreign owner treated under Section 988?
My U.S. LLC owes me $30,000 USD as the foreign owner; the payable is denominated in U.S. dollars. My home accounting is in euros. Between when the payable was booked and when it was paid, USD/EUR moved 4%, so my home-books gain or loss is real. Does any of that currency move need U.S. tax characterization, or is it strictly a home-country bookkeeping issue?
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