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dmoor
New Member

I went to graduate school in the UK in 2017. How do I accurately record my tuition expense if the ticket price is in pounds?

 
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TurboTaxJennifer
Moderator

I went to graduate school in the UK in 2017. How do I accurately record my tuition expense if the ticket price is in pounds?

You'll need to convert the expense to Canadian dollars. Use the Bank of Canada exchange rate for the date the tuition was paid. For example, the link below shows the exchange rate for UK pound sterling on January 3, 2017. You can run a new "lookup" based on your payment date.

https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates-lookup/?series%5B%5D=FXGBPCAD&lookup...

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