Search found 3 matches
- Mon Apr 08, 2024 9:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Exchange gain/loss on US$ at time of move to Canada?
- Replies: 4
- Views: 467
Re: Exchange gain/loss on US$ at time of move to Canada?
Thank you so much for your help.
- Mon Apr 08, 2024 2:34 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Exchange gain/loss on US$ at time of move to Canada?
- Replies: 4
- Views: 467
Re: Exchange gain/loss on US$ at time of move to Canada?
Thank you so much for you reply. I am using existing USD before the time of move to buy T-bill (while living in Canada). When the bill matures, I only get USD interest income. Since the currency never change and always stay in USD, there should not be any foreign exchange gain and lost. Shouldn't I ...
- Sat Apr 06, 2024 2:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Exchange gain/loss on US$ at time of move to Canada?
- Replies: 4
- Views: 467
Exchange gain/loss on US$ at time of move to Canada?
I am a dual citizen and file both US and CDN tax returns. I moved back to Canada in 2021 when the exchange was at 1.25. I had no income in 2021 and 2022, so I did not have any issues. My US brokerage account at the time of the move had US stocks and US dollars. I moved the account to Canadian broker...