I know this has been discussed in the past:
I have a foreign bank account, denominated in the local currency.
Within this account, I also hold other currencies. However, the other
currencies, instead of relating to the local currency, is relating to my
native currency: USD. This greatly distorts the total value of my
foreign bank balance. This is a problem because I have to report the
year end value of all foreign accounts over $10000.00 and one over
$50000.00 (individual).
Is there ever going to be a resolution to this problem? Suggestions?
Thanks,
Les
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