04-12-2005, 09:52 PM
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 Re: Foreign bank account <sslothrop[at]aol.com> wrote: - quote - > Due to the death of my mother in law, my wife has money in
Yup. All Americans are taxed on their worldwide income.> canadian accounts. Do I need to declare the interest? - quote - > How do I figure the exchange?
There is a published exchange rate that is an average ratefor the entire year, apropriate in cases where income is received at roughly even intervals through the year. For 2004, divide the Canadian dollar total by $1.301 to get US dollars. Bryan -- Bryan Kellar, EA Oregon Tax Help, Inc. -- Portland, Oregon www.oregontaxhelp.com www.canadatax.org << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
04-11-2005, 09:46 PM
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| Foreign bank account Due to the death of my mother in law, my wife has money in canadian accounts. Do I need to declare the interest? How do I figure the exchange? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| account, bank, foreign |
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