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posted Feb 28, 2023 10:12:35 AM

Where can I claim a forex gain on turb tax?

I have personal stock account in strictly USD I converted Canadian dollars to USD and then had one transaction where I converted USD back to CAD and there was about a $400 gain on it. How owould I report this on turbo tax?

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1 Replies
Moderator
Mar 4, 2023 12:48:03 PM

You can report this as capital gains.

To do this in TurboTax Online:

  1. Select Find from the TurboTax menu
  2. In the Find window, enter capital gains
  3. Select Capital Gains and Capital Gains Deduction Profile from the results, then select Go