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seanross19
February 28, 2023
Question

Where can I claim a forex gain on turb tax?

  • February 28, 2023
  • 1 reply
  • 0 views
I have personal stock account in strictly USD I converted Canadian dollars to USD and then had one transaction where I converted USD back to CAD and there was about a $400 gain on it. How owould I report this on turbo tax?

    1 reply

    TurboTaxSusan
    TurboTaxSusan
    March 4, 2023

    You can report this as capital gains.

    To do this in TurboTax Online:

    1. Select Find from the TurboTax menu
    2. In the Find window, enter capital gains
    3. Select Capital Gains and Capital Gains Deduction Profile from the results, then select Go
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