Box 24 Foreign Currency is not present on T5 page. Should it be entered elsewhere?

[TurboTaxSusan]

@gail02791 In TurboTax, all amounts are expected to be entered in Canadian dollars unless otherwise noted.

I have passed on your comments & suggestions to our product development team.

Thank you for your input.
 

[sheamuspatt1]

Good to know that TurboTax doesn't do currency conversions. That explains why there's no "Box 27" (currency) on the T5 slip.

Here's my problem, though. I downloaded all of my investment income slips from CRA. The T5 was for an investment in my USD account, and was in $USD, with USD in Box 27. Turbotax accepted that, but just ignored the currency hence I would have been reporting a $USD amount as $CAD and so underreporting my income. Shouldn't TurboTax at least be warning me that it's up to me to convert all of those amounts to $CAD?

[TurboTaxSusan]

@sheamuspatt1 
I have passed on your comments as a suggestion to our product development team.

Thank you for your input.
 

[StephenT]

I'm seeing the same problem on my 2024 return with TurboTax.   The T5 Box 27 says USD but TurboTax is treating the numbers in Boxes 24, 25, 26 as if they were CAD.

[TurboTaxBrenda]

You need to enter the CAD amounts on your T5.   If you go to your CRA "My Account," you should see your T5 with the conversion numbers if you "pull down" your T5

Thank you for choosing TurboTax

[StephenT]

In CRA My Account it lists the USD amounts in Boxes 24, 25, 26 and says USD in Box 27.

When I used TurboTax to download it from CRA there was no conversion done to CAD.

TurboTax treated the USD numbers as CAD.

[Cheechwizard]

Ah, passive-aggressive!

[TurboTaxSusan]

@StephenT As mentioned previously, TurboTax doesn't do the conversions for a T5. If your CRA MyAccount doesn't show the amounts as CAD, then TurboTax won't change them.