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  • Re: I have capital gain in Canada and reporting the foreign taxes paid on form 1116. the foreign tax worksheet states “amount for canada”. Is this reported in USD or CAD?
DoninGA
Level 15 DoninGA
Level 15
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Deductions & credits

All amounts entered on a US tax return is to be reported in US dollars.

Go to this IRS website for dollar to foreign currency yearly average currency exchange rates - https://www.irs.gov/individuals/international-taxpayers/yearly-average-currency-exchange-rates

‎January 13, 2020 8:23 AM
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