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When entering your foreign income dollar amount, are you converting it to canadian currency or in my case USA currency
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February 24, 2021
10:05 AM
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Investors and rental owners
When entering foreign income on your tax return, you should list it under Canadian currency. When converting the currency you should use the exchange rate on the day you received the income or an average exchange rate for the year. Here is an informative TurboTax article on declaring foreign income.
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December 1, 2022
10:34 AM