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ATE, thanks very much. I have reported the interest and paid taxes properly and I think I can add the interest in $ to my basis.

I realize I cannot claim a section 988 ordinary loss without...

And for clarity, I should add that my CDs are not Everbank CDs or something like that. They are regular CD (time deposit) in a foreign bank.

For one CD, I bought it in $$ in 2012 and renewed it (not cash it out) in 2013 at a different rate and for a different term ? For another CD, I bought it with an old savings account in a foreign...

I bought a CD in a foreign bank in 2012. The CD matured in 2013, and I renewed it for another year. Since this was denominated in a foreign currency which depreciated against the $$, the CD was worth...

All interest that is accrued for a CD with a period > 1 year must be reported as income, and taxes must be paid on that. This is per IRS rules regarding multi-year CDs.

If you check your...