- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do i enter a T5008/RL-18 in US funds or US stock trade, how do I enter it in US dollars.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
All income is to be reported in CDN$ at the exchange rate at the time of the transaction.
- Bank of Canada Exchange rate: https://bit.ly/2EK9WJC
For more information see below:
- T5008 -Statement of securities transactions: https://bit.ly/2TocUvr
- From TurboTax FAQ on how to enter a T5008 - https://turbotax.community.intuit.ca/replies/2647749
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
If you have a lot of stock trades in US dollars and you have to create a spreadsheet to enter every trade - then convert to Canadian - then manually enter every trade again into TurboTax you have to wonder if you should be looking for another tax software package
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
If you are reporting income you received from the United States, you should be using the 2018 US Average of 1.2957 to convert the amount to Canadian dollars.
The Bank of Canada also has a currency converter which you can find here: https://www.bankofcanada.ca/rates/exchange/currency-converter/
View solution in the original post
bankofcanada.ca
Convert from Canadian dollars based on daily exchange rates.
turbotax.community.intuit.ca
If you are reporting income you received from the United...
If you are reporting income you received from the United States, you should be using the 2018 US Average of 1.2957 to convert the amount to Canadian dollars. The Bank of Canada also has a currency converter which you can find here: https://www.bankofcanada.ca/rates/exchange/currency-converter/
You may click here for additional information: https://turbotax.community.intuit.ca/community/other-income/help/how-do-i-report-foreign-income-fore...
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
I am filing my 2020 canadian tax returns. I have received T5008 forms with USD trades. Can I use the bank of Canada 2020 average USD - CAD exchange rate which is 1.3415. Please let me know asap.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
Turbo Tax does not include the foreign currency field from the reported T5008 transactions which makes the process extremely inefficient to enter into the software. Absolute waste of time!