How do I report US capital gains in Canadian dollars?

[IRA1]

How do I calculate the conversion from US to Canadian dollars; What date do I use?

[TurbotaxRobert · Accepted solution]

For purposes of simplification, CRA will accept the 2017 average US to CDN exchange rate to be used for purposes of reporting US denominated transactions in CDN funds for tax purposes.  For 2017, the avg exchange rate that applies (per Bank of Canada) is US $1.00 = CDN $1.2986.

[TurboTaxKim]

If you know the exact date of the trade, use that daily exchange rate. Otherwise, use the average annual exchange rate.

You can find those rates here:

http://www.bankofcanada.ca/en/rates/exchform.html

https://turbotax.intuit.ca/tips/taxes-from-selling-foreign-investments-6232