Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Find CRA Netfile error information >> HERE!

Re: How do I enter box 27 from my T5 slip into turbo tax.

How do I enter Box 27 from my T5 slip into Turbo Tax 2024 CAN

1 Reply

Re: How do I enter box 27 from my T5 slip into turbo tax.

Box 27 is to identify Foreign currency.

 

As per CRA, foreign income and foreign taxes must be converted to Canadian dollars. Use the Bank of Canada exchange rate in effect on the day these amounts arise. If you received a monthly pension or multiple payments at different times during the year, use the average annual exchange rate. The average monthly rate and the daily rate are available by going to Bank of Canada

 

In general, the foreign currency amount should be converted using the Bank of Canada exchange rate in effect on the day that the amount arises.

 

Thank you for choosing TurboTax.