Search found 7 matches
- Tue Mar 21, 2023 3:19 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Currency fluctuations on GICs
- Replies: 4
- Views: 1796
Re: Currency fluctuations on GICs
Ah, thank you for this! I was really puzzled because of an article that I read describing how currency fluctuations on Bonds would need to be reported.
- Mon Mar 20, 2023 9:12 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Currency fluctuations on GICs
- Replies: 4
- Views: 1796
Re: Currency fluctuations on GICs
If anyone wonders, I found out that currency fluctuations need to be reported as fixed income under Other Income in TT. I'm still unsure if buying and selling a certificate of deposit triggers a need to report the currency fluctuation or if I should report it only when/if I exchange the CAD back to ...
- Mon Mar 20, 2023 3:16 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Fidelity brokerage allows investments in CDN-denominated ETFs. Are these PFICs?
- Replies: 3
- Views: 1156
- Mon Mar 20, 2023 3:15 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Fidelity brokerage allows investments in CDN-denominated ETFs. Are these PFICs?
- Replies: 3
- Views: 1156
Re: Fidelity brokerage allows investments in CDN-denominated ETFs. Are these PFICs?
I was asking myself the same question a while back and someone responded that ETFs are passive income in another thread.
- Sat Mar 18, 2023 2:36 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Currency fluctuations on GICs
- Replies: 4
- Views: 1796
Currency fluctuations on GICs
Hello, I'm a Canadian living in the US as a permanent resident. I purchased a 1y GIC in Canada last year and I'm reporting interests in my US tax returns and will pay US taxes on these interests. Also reporting this account as a foreign account on 1040 and on FBAR. Now, let's say that the CAD gained...
- Sun Feb 14, 2021 7:59 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Passive Income on Canadian ETFs
- Replies: 3
- Views: 1445
Re: Passive Income on Canadian ETFs
OK, thanks so much!
- Sun Feb 14, 2021 5:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Passive Income on Canadian ETFs
- Replies: 3
- Views: 1445
Passive Income on Canadian ETFs
Hi, I'm a Canadian citizen living in the US with a permanent resident card. I'd like to invest my Canadian dollars without converting to US dollars to avoid a currency conversion while exchange rates are not good. My US broker at Fidelity Investments recently informed me that they have brokerage acc...