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sgeb93
January 13, 2023
Question

Can I deduct my loss of 9,885.71$ due €/$ exchange rates ? Or easier said. I Billed 9,885.71$ More over the year that I received because the exchange rate change.

  • January 13, 2023
  • 1 reply
  • 0 views
I bill monthly and get paid in between the next 30 Days after billing. In meantime the exchange rate changes. Thank you

1 reply

Carl11_2
Carl11_2
Employee
January 13, 2023

No, because you have no loss to claim. You only report as income, the actual dollars received when the foreign currency is exchanged for those dollars. So you only get taxed on what you actually get.

    S
    sgeb93Author
    January 13, 2023

    I figured… thank

    you 

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