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student18
New Member

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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IreneS
Intuit Alumni

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]

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1 Reply
IreneS
Intuit Alumni

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]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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