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Level 3
posted Dec 30, 2022 1:39:50 PM

exchange rate

where can i find the exchange rate used for sale of real property in the US

0 5 3563
5 Replies
Moderator
Jan 3, 2023 7:33:35 AM

You can get the exchange rate from this Bank of Canada webpage: Exchange Rates

Level 3
Jan 3, 2023 12:45:27 PM

Yes I'm aware of where to get the exchange rate.  My question was not clear enough i guess.  Does TurboTax automatically convert US$ proceeds , ACB, and Outlay/Expenses on sale of US property into Cdn$.  where can i view the exchange rate TurboTax used.  I entered the US$ amount but the program does not appear to be converting into CDN$   

 

The same question applies to the rate at which TurboTax converts US$ Social Security income into Cdn$ received. Where is the rate entered and by whom - me or the program?

 

Another question in this version i can't seem tp print just one page/form ie: Capital Gains.  My version # is 00.01.11 Build 1008 068G06 TurboTax Standard.  If this version does not yet print. when will it be functionally able to print individual forms??  When I open and re-open  there is no program updating done as it does in the TT USversion

Moderator
Jan 3, 2023 1:50:47 PM

TurboTax doesn't do any currency conversion. You have to convert any amounts into Canadian dollars yourself, but this allows you to choose a rate that is more favorable to you.

 

Printing forms (or returns) will be available when NETFILE opens on February 21, 2023.

Level 3
Jan 8, 2023 8:10:46 AM

Program development suggestion:  Exchange rate input box should be available on the capital gains screen so the conversion is automatic based on the rate selected by the user. Otherwise any calculations are not traceable as they would have been calculated outside of the program.  I notice that this option is available on the Foreign Income screen of the Canadain Turbo Tax 2022 version

 

 

Intuit Alumni
Jan 9, 2023 6:17:20 AM

Thank you for your feedback, we value your opinion and will share this information with the proper TurboTax team.

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