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Turbo tax does not allow currency exchange numbers for many decimal places

Hi, I have a foreign account in Vietnam. The exchange rate of VND to USD is 0.00004. However, I cannot enter this number into the turbo tax UI.

Please see below "Invalid number" popup

Screenshot 2025-02-09 at 7.00.37 PM.png

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1 Reply
SusanY1
Employee Tax Expert

Turbo tax does not allow currency exchange numbers for many decimal places

Try using the reverse (Dong to USD) of 25,480.  This number came from the US Treasury Rates of Exchange found HERE (you have to open the separate PDF document at this link to find this rate).

When reported the other way, TurboTax sees a $0 due to rounding, which is causing the error.  

The IRS also prefers the number reported as the amount of foreign currency that it takes to buy $1USD, so this also conforms to that preference.   

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