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How should I convert foreign numbers on my US tax return?
Dual citizen, attended school and earned income in Canada. Do I convert my Canadian tuition to USD as well? What conversion rate should I use for both tuition + income?
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How should I convert foreign numbers on my US tax return?
UPDATED FOR TAX YEAR 2019
Yes, convert all Canadian dollars to US dollars. For information on conversion rates please see this section of the IRS website: Foreign Currency and Currency Exchange Rates
The IRS also lists the following resources for obtaining an exchange rate:
Governmental Resources
External Resources
[Edited | 3/31/2020 | 11:55am PDT]
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
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How should I convert foreign numbers on my US tax return?
UPDATED FOR TAX YEAR 2019
Yes, convert all Canadian dollars to US dollars. For information on conversion rates please see this section of the IRS website: Foreign Currency and Currency Exchange Rates
The IRS also lists the following resources for obtaining an exchange rate:
Governmental Resources
External Resources
[Edited | 3/31/2020 | 11:55am PDT]
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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