How to report worldwide income while filing US income taxes
My spouse is a non resident alien for 2011. I am treating her as resident and trying to enter her worldwide income on form 1040. I could not find any instructions which indicate how to convert her earnings in foreign currency in US dollars and where to add them on 1040.
Can you help? It will be highly appreciated.
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FBAR instructions describe the currency conversion calculation. When I needed currency conversion, I also filed form 1116 (because I had taxes paid on foreign income abroad), and the currency calculations were explained in a note attached to it. I imagine you would do the same.
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