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When completing the foreign income work sheet do I enter in Canadian funds?
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posted
May 3, 2021
5:00 AM
last updated
May 03, 2021
5:00 AM
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When completing the foreign income work sheet do I enter in Canadian funds?
- 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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January 24, 2022
11:43 AM