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New Member
posted May 3, 2021 5:00:11 AM

When completing the foreign income work sheet do I enter in Canadian funds?

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1 Replies
Level 6
Jan 24, 2022 11:43:28 AM

  • If the amounts on your foreign income slip are reported in a foreign currency, convert them to Canadian dollars before entering them. If the amount was paid at various times throughout the year, use an average annual exchange rate.
  • For foreign nonbusiness income that isn't on a T-slip (including US Social Insurance), do not convert the amounts to Canadian dollars before entering them. TurboTax converts the amounts automatically based on the exchange rate you enter.

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