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New Member
posted Sep 15, 2020 6:31:55 PM

When completing the capital gains slips for US capital gains, should I enter the amount shown on my (US) 1099 form, or should I convert it to Canadian dollars?

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Moderator
Sep 16, 2020 7:36:24 AM

As per CRA- If the amounts on your foreign income slip are reported in a foreign currency, convert them to Canadian dollars before you enter them. If the amount was paid at various times throughout the year, use an average annual exchange rate.

  • For foreign non-business income that is not on a T-slip (including US social security), do not convert the amounts to Canadian dollars before you enter them. TurboTax converts the amounts automatically based on the exchange rate you enter.