Yes, you are 100% correct. Till now, no one in Turbo gave me satisfactory and doable answer. Most convincing answer appears to claim depreciation or losses due to foreign exchange when term deposit matures or better when we transfer proceeds of funds to our bank in USA. But how and where in Turbo?
However, where will you claim this loss? I tried to claim as a credit in form in 1116, but my taxes went up or there was no effect. It happens because 1116 calculations are based on ratios. When you show loss or credit without income, you would see negative or no implication on 1116.
Possibly, we need to explore other ways. I request some senior and experienced Turbo CPA expert in foreign taxes to guide all of us by answering our questions.
