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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1 Best answer

Intuit Alumni

Jun 6, 2019 4:15:42 AM

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]