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Should I report this currency conversion as income?

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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1 Best answer

Accepted Solutions
MinhT1
Expert Alumni

Should I report this currency conversion as income?

This currency conversion isn't income for you. 

 

You don't need to report it on your US tax return.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
MinhT1
Expert Alumni

Should I report this currency conversion as income?

This currency conversion isn't income for you. 

 

You don't need to report it on your US tax return.

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