Lowest Cost International Transfer from Account in US to Portugal

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@jb4422

FX currency gain/loss is a sec988 tax item. This is recorded on your 1040 above-the-line - comes straight off (or adds straight onto) income. I think there’s a carry-back as well.

I think this is only true if for pure currency speculation. But if you convert USD to EUR to buy a Portuguese stock, then later sell the stock in EUR and convert back to USD, that’s just a normal capital gain/loss since the primary investment was stock, and the currency exchange was just part of buying/selling the stock.