Skip to main content
April 14, 2022
Question

Can you kelp me to put in an investment account in my Tax return2021?

  • April 14, 2022
  • 1 reply
  • 0 views
I have a loss in my investment account in a forex broker.

    1 reply

    April 14, 2022

    Of course I can. Start off with logging into TurboTax Online. Then once you have chosen your current tax return on the screen:

    > Go to the left navigation pane, click on "Income", then "Investments"

    > Click on "Investment Profile", Check Capital Gains or Losses, as well as anything else that you are eligible for.

    > Then follow the wizard.

    You will be required to have certain information provided by your Foreign Exchange brokerage to complete the capital gain/loss reporting. You will need: Proceeds of Disposition (Can also be called proceeds from sale), Adjusted Cost Basis, Outlays and Expenses, And your Disposition Date.

     

    When you are on the Capital Gains screen to report, your "Type of Capital Property" will be: Bonds/Other Properties. You must report your net gain/loss in Canadian Dollars, and the exchange rate between the currency pair will be the exchange rate at the time of sale and purchase.

     

    Thank you for choosing TurboTax.