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S
shelest1992
March 13, 2020
Question

Before moving to US I worked for 5 months in Ukraine. Can I use exchange rate for the first half of the year in order to report non-us income? It does matter

  • March 13, 2020
  • 1 reply
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1 reply

D
DavidD66
March 13, 2020

According to the IRS:

 

"You must express the amounts you report on your U.S. tax return in U.S. dollars. Therefore, you must translate foreign currency into U.S. dollars if you receive income or pay expenses in a foreign currency. In general, use the exchange rate prevailing (i.e., the spot rate) when you receive, pay or accrue the item."

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