As your capital loss involved foreign income, it should be entered into your tax return using the Foreign Slip. When you enter your amount as “Foreign capital gains/losses”, it will automatically be added to Schedule 3.
When you enter your amount of loss, you need to make sure that you convert it into Canadian dollars. You can get the exchange rate from this Bank of Canada webpage: Exchange Rates
To get to the Foreign Slip in TurboTax CD/Download EasyStep Mode:
- Select Find (or the magnifying glass icon) from the top right in the blue icon bar.
- In the Find window, type “t-slips” and choose “t-slips” from the list. Then click “Go”.
- Check off “Foreign Slip”, then click the “Continue” button until you get to that page.
To get to the Foreign Slip in TurboTax CD/Download EasyStep Mode:
- Select Forms from the blue icon bar.
- In the Find window, type “foreign” and choose “Foreign - Foreign Slip” from the list below. Then click “OK”.
For more information about taxes related to foreign investment: Taxes From Selling Foreign Investments (TurboTax)
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