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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2605
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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We have income from abroad in Swiss Francs and in Canadian

Customer Question

We have income from abroad in Swiss Francs and in Canadian dollars. What exchange rates should we use to convert these currencies into USD
Submitted: 1 year ago.
Category: Finance
Expert:  emc011075 replied 1 year ago.

Hi. My name is ***** ***** I will be happy to help you.

You can use any reasonable method or rate to convert it into USD, the exchange rate on the day you received it, average monthly or weekly exchange rate or you can use IRS average yearly currency exchange rate that can be found here:

https://www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-Rates

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