- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
For income, the IRS says, " The Internal Revenue Service has no official exchange rate. Generally, it accepts any posted exchange rate that is used consistently." If there are US tax payments made in foreign currency, then that will be the rate used by the bank on the day the conversion is made.
You can use IRS conversions at this site. IRS Yearly Average Currency Exchange Rates
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎January 28, 2022
5:36 AM