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Topic: IRS rate of exchange?  (Read 1170 times)

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IRS rate of exchange?
« on: March 22, 2011, 01:54:48 PM »
What is the IRS official rate of exchange for filing my 2010 taxeds please? 


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Re: IRS rate of exchange?
« Reply #1 on: March 22, 2011, 02:13:54 PM »
From http://london.usembassy.gov/irs/irsxchng.html: "The IRS has no official exchange rate. Any posted exchange rate that is used consistently is acceptable."

They then go on to post an unofficial exchange rate of £1 = $1.54.

You can use this rate or you can use a generally available exchange rate from a commercial website such as xe.com or oanda.com. As long as you are consistent in the rate you use you will be fine.


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Re: IRS rate of exchange?
« Reply #2 on: March 28, 2011, 03:48:21 PM »
What i tend to do each year is look at the mid-market exchange rate on each payday for the year.  I think you can look it up searching on oanda.com


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Re: IRS rate of exchange?
« Reply #3 on: March 29, 2011, 11:10:35 PM »
Thank you !!


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