Foreign-taxed income should be included in your (or your parents’) adjusted gross income (AGI). This includes any income that was taxed by ANY government. Note that some foreign tax returns don’t specify AGI, so you’ll need to calculate that separately before reporting it.
If you filed a foreign tax return, you will convert the currency value to US dollars for your FAFSA® application. Here is the conversion table that is recommended by the Federal Student Aid organization.
Foreign untaxed income includes any income that was never taxed by any government. You’ll still want to report this on your FAFSA® application.
Foreign bank accounts and net worth should also be included in cash and investment assets questions. To report this on the FAFSA®, convert all foreign currency values to US dollars.