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How can I report foreign currency loss on my fixed income accounts in another country?
I have had many Fixed deposit accounts in India during a period of last 10 years and have been reporting them as interest income on my tax returns and also FBAR. this year I broke those CDs and brought the money over to US. However due to the currency devaluations, I have lost money.
How do I report that over on the tax return?
‎December 28, 2022
8:18 AM