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filing a foreign earned income

Mustapha Ratib
Level 3

I am filing a foreign Earned Income from Germany, and tax payer is American Citizens. So I am using form 2555 and I need  to know what rate to use to convert from EUR to US Dollar. I know there is a schedule for that but don't know where to find it.

Thank you.

Mustapha

 

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BobKamman
Level 14

You could use the average rate of 1.142, or if the income was not earned in equal instalments through the year, here are daily figures:

https://www.exchangerates.org.uk/EUR-USD-spot-exchange-rates-history-2020.html

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BobKamman
Level 14

You could use the average rate of 1.142, or if the income was not earned in equal instalments through the year, here are daily figures:

https://www.exchangerates.org.uk/EUR-USD-spot-exchange-rates-history-2020.html

View solution in original post

Mustapha Ratib
Level 3

Yes it is a salary for the whole year and the average rate would be the reasonable option. and Obviously the form 2555 is the one used in this case of course no W-2. 

Thank you very much for your help.

 

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