Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
tashap
New Member

Sold US stocks of $4302USD - $27USD trading fee. Unsure where to claim this & if the entire amount is income or the difference between the purchase & the selling price?

I'm just confused if the entire $4302 is income or just a portion?

1 Best answer

Accepted Solutions

Sold US stocks of $4302USD - $27USD trading fee. Unsure where to claim this & if the entire amount is income or the difference between the purchase & the selling price?

Enter your sale of stocks by going to the 

  • Income Tab > Investments > Capital Gains & Capital Gains Deduction Profile. 
  • Check the top box that says you Sold Stocks and continue to the Capital Gains page.

Complete this screen for each disposition, entering your amounts converted to CAD. This will result in a Capital Gain calculated as the difference between your purchase price (Adjusted Cost Base) and sale price (Proceeds of Disposition) minus your fees (Outlays & Expenses). 

View solution in original post

4 Replies

Sold US stocks of $4302USD - $27USD trading fee. Unsure where to claim this & if the entire amount is income or the difference between the purchase & the selling price?

Enter your sale of stocks by going to the 

  • Income Tab > Investments > Capital Gains & Capital Gains Deduction Profile. 
  • Check the top box that says you Sold Stocks and continue to the Capital Gains page.

Complete this screen for each disposition, entering your amounts converted to CAD. This will result in a Capital Gain calculated as the difference between your purchase price (Adjusted Cost Base) and sale price (Proceeds of Disposition) minus your fees (Outlays & Expenses). 

Bkim2
New Member

Sold US stocks of $4302USD - $27USD trading fee. Unsure where to claim this & if the entire amount is income or the difference between the purchase & the selling price?

Did you mean to convert the money amounts to CAD?

Sold US stocks of $4302USD - $27USD trading fee. Unsure where to claim this & if the entire amount is income or the difference between the purchase & the selling price?

Yes, if you are entering any foreign dollar dispositions on the Capital Gains page, you must make the conversion to CAD funds.
Bkim2
New Member

Sold US stocks of $4302USD - $27USD trading fee. Unsure where to claim this & if the entire amount is income or the difference between the purchase & the selling price?

Do I just convert it at what is it currently?  Also how about if I kept it as USD?  Do I need to still convert it?  Thanks