Han wrote:

- quote -

First of all, have you had unrestricted access to the cash
since that time? If so, there's nothing to report and no
problem.

Happy New Year,
Harlan Lunsford, EA n LA

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I inherited Euro-based cash in Oct 2002. Since then I have
transferred occasionally funds to my US bank account. The
exchange rate (due to the willful devaluation policies of US
authorities) has changed, so that €1.00 is now close to
$1.25. What if any capital gains are involved here for tax
reporting purposes? I'm not sure whether I can claim that a
euro is a euro and that therefore there is no capital gain,
although anyone currently traveling in Europe will *know*
that it takes more $$ today to purchase the same as a couple
of years ago when the $/€ exchange rate was the reverse. From $0.85/€ to $1.25/€ is quite a devaluation!

TIA for your opinions!

--
Best regards
Han
email address is invalid

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