Serbinski Accounting Firms

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.

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 ...

I was asking myself the same question a while back and someone responded that ETFs are passive income in another thread.

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...

OK, thanks so much!

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...