Foreign income question

Hello
I'm getting ready to file my 2555EZ form, but I have one
question. It says that foreign income must be converted to
U.S. Dollars with an exchange rate applicable at the time of
the income.

My income is from a regular wage, so I'm not sure what
exchange rate I should use. Am I supposed to keep track of
this every pay cheque? If so, I will next year, but I would
like some advice on what I'm supposed to do for this year.

Thank you.
Dave

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Reply to
Dave
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If as you say, your wages were the same throughout the year, you can use the average yearly rate for 2005 without distorting income.
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The federal reserve also publishes monthly rates.
Reply to
A.G. Kalman
Thank you for the response!
One more question. I'm filling out the tax form, and it's asking for filing status. For both "married" options, it's asking for my wife's SSN. Being a Canadian citizen, she of course doesn't have one. What status should I choose (there are no children involved), and if one of the "married" statuses, is it ok to put "N/A" or something similar where it's asking for her SSN? Thanks again!
Dave
Reply to
Dave
Sorry for the late response, but I have been away for awhile due to a death in the family. You obviously are residing outside the US. You have provided no facts regarding the status of your spouse other than she is a Canadian citizen. E.g., is she a resident alien of the US or a nonresident alien of the US? Either way, if you want to file a joint tax return, you can treat her as a resident alien and she would need a TIN. If you want to treat her as a nonresident and claim her personal exemption if she had no US source income, then she would need a TIN. If you are not claiming her personal exemption she would not need a TIN. Form W-7 is used to obtain a TIN and you can send the W-7 with the tax return.
Reply to
A.G. Kalman

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