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S
shahid31091
June 29, 2020
Question

Any foreign source qualified dividends or long term capital gains? Should the foreign income be specified in the foreign currency where it was earned or in USD?

  • June 29, 2020
  • 1 reply
  • 0 views
I am filing taxes for United states and taking tax credit for foreign income from Canada

1 reply

M
MinhT1
June 29, 2020

The foreign income (and the foreign tax credit) must be converted into USD using the US Treasury Reporting Rates of Exchange unless the Treasury does not provide a rate for your particular currency.

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