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To: sten

Anyone who does business in multiple countries calculates and pays taxes in different currencies all the time. As a U.S. taxpayer, I have to report my foreign income and capital gains on my U.S. tax return. If I buy an investment property in Europe and sell it five years later, I have to report the capital gain on my U.S. tax return even if both transactions are conducted in euros. I simply document the purchase price and the sale price on my U.S. return based on the euro-dollar exchange rates at the time of purchase and the time of sale.


14 posted on 05/08/2021 3:02:19 AM PDT by Alberta's Child ("And once in a night I dreamed you were there; I canceled my flight from going nowhere.")
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To: Alberta's Child

most online games have a gold to USD exchange rate

maybe we should start reporting how much we make playing various online games

it’s about as valid as reporting digital currency


27 posted on 05/08/2021 4:15:53 AM PDT by sten (fighting tyranny never goes out of style )
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