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That is not accurate. If a US citizen buys, for example, an extra $1000 in euros that are not spent, and the exchange rate changes, it is a taxable event. The
by Xorakios 4y ago
That is not accurate. If a US citizen buys, for example, an extra $1000 in euros that are not spent, and the exchange rate changes, it is a taxable event.
The specific line item is on Form 8949, to report gains from foreign currency exchange transactions, Part I and it absolutely applies to vacation travelers, not just FOREX investors.