What do I need to enter for the Detailed Explanation on Form 1116 (COPY 1)?

[HelenC12]

If you have to convert from foreign currency, attach a detailed explanation of how you figured:

• The conversion rate,
• What dates you used and
• What converter you used. See IRS Form 1116, instructions, page 3, Foreign Currency Conversion.
• Any other information that may help clarify the amounts on your Form 1116. 

[jon-hoya]

Thanks for your help. This is stemming from an ETF. Where would I find the information used for the conversion? I assumed it would be on the 1099, and if that’s the case then that was imported into TT. I have had this managed investment account for several years, but never been asked to do this.

[RobertB4444]

@jon-hoya  You should contact your broker to find out what exchange rate they used.  They should already have this explanation written for you and you can just attach their explanation.