I lost money in a Canadian casino I went multiple times to this casino thru out the year. Casino gave me summary of loss. Do I use Dec 31st date for currency translation?

[rwierzbicki0415]

I went multiple times throughout the year. Casino only provided a single one number summary of loss with no other dates I was there. Is this statement sufficient?

[DS30 · Accepted solution]

It would be better if you used the IRS yearly average exchange rate if you do not know the dates of the losses and the losses occurred at various times during the calendar year (and yes the statement is sufficient as a receipt of your losses).

The Internal Revenue Service has no official exchange rate. In general, use the exchange rate prevailing (i.e., the spot rate) when you received the income. Please refer to the following IRS links for more information about Foreign Currency and Currency Exchange Rates and Yearly Average Currency Exchange Rates