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Deductions & credits
You will have to do the conversion manually and then input the amounts (in USD) in to the TurboTax software. The Internal Revenue Service has no official exchange rate. In general, use the exchange rate prevailing (i.e., the spot rate) when you receive the property, made any capital improvements and sold the property. Please refer to the following IRS links for more information about
Foreign Currency and Currency Exchange Rates - https://www.irs.gov/individuals/international-taxpayers/foreign-currency-and-currency-exchange-rates
and Yearly Average Currency Exchange Rates - https://www.irs.gov/individuals/international-taxpayers/yearly-average-currency-exchange-rates
May 31, 2019
5:02 PM
14,426 Views