How to file foreign capital gains

Please click on the Income tab and select "tslips" then select "Foreign".  Enter as Foreign capital gains or loss. (-)

To determine your capital gains or losses after selling foreign investments, you must subtract the adjusted cost base (the amount paid for the investment plus commission and fees) from the amount for which you sold the investment. If you are calculating capital gains or losses for the sale of stock, do not include commission in the sale price.

• If you earn money through the transaction, the earnings are a capital gain, and you must report 100 % of that amount on your income tax return, which will, in turn, calculate out the 50% rule for capital gains.
• If you lose money through the sale, you suffer a capital loss that may also need to be reported on your tax return.

To report income from the sale of foreign investments on your tax return, you must convert all amounts into Canadian dollars. To do so, use the exchange rate on the day you bought or sold the shares.

 

Please visit our article on  Taxes From Selling Foreign Investments to learn more about foreign investments.

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