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Yes, you can report your loss on your foreign currency conversion by following the steps below:
You will then add an item titled "Loss on foreign currency transactions." and enter the loss as a negative amount.
You may use the average exchange rate of 2015 or the exchange rate on the date you changed the money.
http://www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-Rates
Yes, you can report your loss on your foreign currency conversion by following the steps below:
You will then add an item titled "Loss on foreign currency transactions." and enter the loss as a negative amount.
You may use the average exchange rate of 2015 or the exchange rate on the date you changed the money.
http://www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-Rates
How can I claim the loss on the IRS forms?
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