Exchanging Currency at Home and Overseas The following are some of the best and least expensive places to convert currency: Local banks and credit unions usually offer the best rates. Major banks, such as Chase or , often either have ATMs overseas or allow you to use their cards overseas without fees.
How to Report Foreign Income. If you are a U.S. citizen or U.S. resident alien, you report your foreign income on your tax return where you report your U.S. income. That is, on line 1 of IRS Form 1040.