<p>I am US citizen, but my dad is not and works in Korea. I have his 2010 tax return statements ready 'in English' finally, but they are in Korean currency. All I have to do is convert those into US dollars. </p>
<p>My Q is which WEBSITE and DATE should I use for the exchange rate? Please, help! I am in a rush :<</p>
<p>You didn’t say what purpose the conversion is for.</p>
<p>The IRS gives you a fair bit of leeway. (Google for details.)</p>
<p>FAFSA instructions say to use the exchange rate of the day that you file the FAFSA.</p>
<p>^To convert my dad’s 2010 income from Korean currency into US dollars, as I had mentioned in my initial question. I have to send these to IDOC. Perhaps I was not clear enuf? </p>
<p>Anyhow, should I use one day, any day, in 2010 for conversion? Or use the date that I am submitting my dad’s statement?</p>
<p>I was asking for the purpose of the currency conversion because the guidelines vary with the recipient. </p>
<p>FAFSA: use the exchange rate on the day you file the form (e.g. today’s rate)</p>
<p>CSS Profile: you get to pick the date. i suggest you use the same exchange rate as on the FAFSA so that the figures match, or else processing of your financial aid application might get delayed.</p>
<p>IDOC: translate the documents but keep the original currency. do not convert the currency into USD.</p>
<p>Unless of course your college gives you different instructions.</p>
<p>^ Thank you very much!</p>