No, you do not need to report the gain or loss due to fluctuations in the exchange rate, but if you receive interest income, it should be reported on your return.
To enter your interest income (if any),
- In
your Federal Return,
choose the tab for Wages & Income
- Scroll
down to the topic Interest on 1099-INT (you
may have to click Add more income and See a list to find it) and choose Start/Edit
- Choose Edit or + Add more income to enter your interest
- If you
haven't started already, on the next page, scroll down and choose the gray
button in the lower right, I'll type it in
myself.
- On the
page Let's get your 1099-INT or brokerage
statement details enter your bank name and interest in Box 1, if
any.
- If necessary, mark the check box underneath
the "Received from" entry that says "My form has info in more than just box 1 (this is uncommon)."
This will open additional boxes for interest income details, such as if you paid Foreign Tax on the income.
