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 Apr 2, 2025 1:31:31 PM

T5 is in US currency. How do I report that on the form?

My T5s are in US currency and there is no way to indicate that on the Intuit TurboTax t5 form

0 1 190
1 Replies
Moderator
Apr 5, 2025 11:14:32 AM

As per CRA, foreign income and foreign taxes must be converted to Canadian dollars. Use the Bank of Canada exchange rate in effect on the day these amounts arise. If you received a monthly pension or multiple payments at different times during the year, use the average annual exchange rate. The average monthly rate and the daily rate are available by going to Bank of Canada.

 

Thank you for choosing TurboTax.