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Moved my foreign bank assets to USA but didn't convert to USD

I'm a new permanent resident and moved my foreign assets to US bank but did not convert the amount to USD right away. After few months, I converted to USD and have suffered some losses in USD terms. Will I be able to claim forex losses on my taxes per section 988? The broker does show the forex losses in realized gains/loss reports on their website.

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Moved my foreign bank assets to USA but didn't convert to USD

Yes, you can report forex losses.

Here's how to report forex losses in TurboTax.

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Moved my foreign bank assets to USA but didn't convert to USD

Moved my foreign bank assets to USA but didn't convert to USD

Hello, any experts out there for an answer to my original question?

Moved my foreign bank assets to USA but didn't convert to USD

Yes, you can report forex losses.

Here's how to report forex losses in TurboTax.

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

Moved my foreign bank assets to USA but didn't convert to USD

Thanks Robert. Hopefully, IB will generate a 1099 for me.

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