jackk
New Member

Losses in a foreign cash account due to devaluation of the foreign currency over time.

I have a foreign securities account tied to a foreign cash account for holding sales proceeds. I have paid capital gains on all sales while maintaining the proceeds in the foreign account. Due to devaluation of the foreign currency over time,  when I withdraw money and convert it to USD, I receive less than I declared for capital gains. Can I take a loss from the devaluation?