Search found 3 matches

by Flyingdog
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 ...
by Flyingdog
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...