Entering any foreign amounts into TurboTax varies:If the amounts on your foreign income slip are reported in a foreign currency, convert them to Canadian dollars before entering them. If the amount was paid at various times throughout the year, use an average annual exchange rate.For foreign non-business income that isn't on a T-slip, do not convert the amounts to Canadian dollars before entering them. TurboTax converts the amounts automatically based on the exchange rate you enter.Thank you for choosing TurboTax.

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jeenybeeny

Question

If am filing in Quebec, Canada. A business that pays me in USD and my investments are in USD as well. It doesn't ask me what currency. How do I file the amounts?

Forum|Forum|1 year ago
June 8, 2024
1 reply
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Heidi123

Entering any foreign amounts into TurboTax varies:

If the amounts on your foreign income slip are reported in a foreign currency, convert them to Canadian dollars before entering them. If the amount was paid at various times throughout the year, use an average annual exchange rate.
For foreign non-business income that isn't on a T-slip, do not convert the amounts to Canadian dollars before entering them. TurboTax converts the amounts automatically based on the exchange rate you enter.

Thank you for choosing TurboTax.