Hello everyone,
I had some money in EUR (cash) before migrating to the US. I decided to put this money in my savings account at Bank of America in USD.
I expected that it would be just a deposit operation. However, in Bank of America, I saw the type of this transaction: Income: Other incomes because it was a conversion from EUR (cash) to USD (savings account).
Should I report and how should I report this amount as my income? It was my cash money before immigrating to the US. I don't even know the price or when I acquired it. It was several years ago.
I need your advice.
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This currency conversion isn't income for you.
You don't need to report it on your US tax return.
This currency conversion isn't income for you.
You don't need to report it on your US tax return.
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