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R
rainepost
April 2, 2025
Question

T5 is in US currency. How do I report that on the form?

  • April 2, 2025
  • 1 reply
  • 0 views
My T5s are in US currency and there is no way to indicate that on the Intuit TurboTax t5 form

    1 reply

    T
    TurboImpotVeronique
    April 5, 2025

    As per CRA, foreign income and foreign taxes must be converted to Canadian dollars. Use the Bank of Canada exchange rate in effect on the day these amounts arise. If you received a monthly pension or multiple payments at different times during the year, use the average annual exchange rate. The average monthly rate and the daily rate are available by going to Bank of Canada.

     

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