pk
Level 15
Level 15

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@shanesnh  What I get from your post is whether these discounts ( discounted  exchange rate  -- South Korean Won to US$ ) for monies  amount to recognizable  income for US tax purposes.  In such cases  the tests I would apply are 

(a) is this something of value that I have full / unfettered right to transfer ( i.e.  sell/exchange/barter) in the open market ( i.e. arms length exchange) ?  If it is not then it is not a recognizable income.

(b) If it is a recognizable income is it above the minimal / safe harbor amount generally recognized ?

In your particular situation, your operating currency ( for US tax purposes ) being US$, an exchange rate discount based on specific conditions ( opening a new account, specific currencies, relationship etc. etc. ) are not transferrable ( it applies only to a long-term customer and/or holder of a specific coupon -- an advertisement ) and so therefore is not an income per-se -- it is a benefit of being a special customer ( relationship).   This is no different  than getting special pricing in a membership only store like  Costco/ Sam's Club etc.

(c) This is personal expense -- exchanging Won to US$

Please note that since you have foreign bank/ financial account, FBAR and FATCA regulations apply

Does this make sense ?   Is there more I can do for you ?