Hello! We recently sold our investment property overseas and we made a pretty big loss. We originally brought USD from Japan to Malaysia. We sold the apt and have some cash left after a loss which we want to bring back to Japan. It’s currently in MYR but we’ll convert to USD to bring back to Japan.
My question is, if we don’t convert this amount back to USD, and bring back to Japan and keep USD, do we report the loss from when we first converted, and in JPY?
Also we do have a fund we terminated which we also brought back to Japan in USD. It was a loss also and we want to claim this loss against another fund we are closing where we made a gain also in USD. Do we have to calculate based on the date we started this fund and for today’s exchange rate in JPY even if we don’t intend to convert the remaining balance to JPY?
Thank you for your support in advance!!
by Broad_Glove4170