Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Other Income Workout

Worldwide Income

Case Study 4: Worldwide Income (continued)

The scenario continues. During the tax year, Hannah also received:

Assume the average annual exchange rate was 40.25 Filipino pesos to one U.S. dollar.

  • 1,200 Filipino pesos in interest income
  • $500 in U.S. interest from her U.S. bank

Assume the average annual exchange rate was 40.25 Filipino pesos to one U.S. dollar.

What is the total interest income (in U.S. dollars) to be reported on her U.S. tax return?

Type your answer here: $ (Please do not use commas in answer)




Map of Philippines.