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How should the conversion of long-term foreign debt into foreign stock by a U.S. resident be reported?

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How should the conversion of long-term foreign debt into foreign stock by a U.S. resident be reported?

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A. The reporter should show the conversion of long-term foreign debt into foreign stock by a U.S. resident as a purchase by a foreign resident of foreign debt (column 9) and a sale by a foreign resident of foreign stocks (column 12).

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