When converting foreign currency to U.S. currency for purposes of filing a U.S. tax return, what foreign currency exchange rate should I use?
The Internal Revenue Service has no official exchange rate. Generally, it accepts any posted exchange rate that is used consistently. If you have a single transaction, such as the sale…
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When converting foreign currency to U.S. currency for purposes of filing a U.S. tax return, what foreign currency exchange rate should I use?