Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 24, 2021 10:05:51 AM

When entering your foreign income dollar amount, are you converting it to canadian currency or in my case USA currency

0 1 780
1 Replies
Level 3
Dec 1, 2022 10:34:01 AM

When entering foreign income on your tax return, you should list it under Canadian currency. When converting the currency you should use the exchange rate on the day you received the income or an average exchange rate for the year. Here is an informative TurboTax article on declaring foreign income. 

 

Thank you for choosing TurboTax