38764
You'll need to sign in or create an account to connect with an expert.
Yes, you can report your loss on your foreign currency conversion by following the steps below:
You will then add an item titled "Loss on foreign currency transactions." and enter the loss as a negative amount.
You may use the average exchange rate of 2015 or the exchange rate on the date you changed the money.
http://www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-Rates
Yes, you can report your loss on your foreign currency conversion by following the steps below:
You will then add an item titled "Loss on foreign currency transactions." and enter the loss as a negative amount.
You may use the average exchange rate of 2015 or the exchange rate on the date you changed the money.
http://www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-Rates
How can I claim the loss on the IRS forms?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
shanesnh
Level 3
brian94709
Returning Member
alicjaczaja
New Member
MHSD36
Level 2
Sohel
Level 1