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New Member
posted Oct 30, 2019 5:49:48 AM

Could you please tell me what was the exchnage rate used for converting US and Euro funds in 2016?

Also I would like to know how the program calculates the other income

0 3 1029
3 Replies
New Member
Oct 30, 2019 5:49:49 AM

Please use Google.  Simply type what you want into the search bar and you can get the exchange rate averages or specific dates.

New Member
Oct 30, 2019 5:49:51 AM

I asked what did the turbotax program used and you asked me to look at Google. Also I asked how did the turbotax calculate other income in line 232 but there was no answer.

New Member
Oct 30, 2019 5:49:52 AM

Sorry, you did not specify what the program calculated.  I have no idea what the program calculates.
This answer will tell what is in line 232.  Always check the "search the community" bar.
https://turbotax.community.intuit.ca/questions/1544171-revenue-canada-asked-for-information-about-line-232-on-my-tax-return-other-deductions-in-the-amount-of-2000-00-is-this-medical-receipts-they-re-looking-for

In looking at my installed version, it shows 1.24 for US.  There is no apparent option for choosing a country using Euros.  I just had an option of choosing country 2 or country 3, so in that case, you would have to do the conversion per Google. I also don't know if the program changes the conversion rates during updates.  I'm pretty sure it was closer to 1.3 for US earlier in the year.