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How do I report currency realized losses?
In 2020, I wired euros into my US brokerage account with Fidelity (which resulted in the conversion of the euros into US dollars) and bought a security that is traded in euros. On my 2020 tax statement from Fidelity, there is a section entitled, "currency realized gain/loss" (see screenshot below) which shows a loss due to the cost basis being higher than the proceeds. I assume this difference between the cost basis and proceeds was the result of the exchange rate deteriorating between the time I deposited the funds into my account and the time I used the funds to make a purchase of the security. How do I report this loss in TurboTax?
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‎January 26, 2021
5:05 PM