Search found 7 matches

by ctocargo
Tue Mar 21, 2023 3:19 pm
Forum: Canada / United States Tax & Accounting
Topic: Currency fluctuations on GICs
Replies: 4
Views: 1298

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.
by ctocargo
Mon Mar 20, 2023 9:12 pm
Forum: Canada / United States Tax & Accounting
Topic: Currency fluctuations on GICs
Replies: 4
Views: 1298

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 ...
by ctocargo
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: 735

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.
by ctocargo
Sat Mar 18, 2023 2:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Currency fluctuations on GICs
Replies: 4
Views: 1298

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...
by ctocargo
Sun Feb 14, 2021 7:59 pm
Forum: Canada / United States Tax & Accounting
Topic: Passive Income on Canadian ETFs
Replies: 3
Views: 1170

Re: Passive Income on Canadian ETFs

OK, thanks so much!
by ctocargo
Sun Feb 14, 2021 5:26 pm
Forum: Canada / United States Tax & Accounting
Topic: Passive Income on Canadian ETFs
Replies: 3
Views: 1170

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...