When a dollar is not a dollar - Exchange rates!

denisharlock · Post by **denisharlock** » Sat Feb 27, 2010 5:13 pm

As a US resident, I just received my NR4 for interest earned on my CDN bank account for the year.

What date do I use to calculate the exchange rate that I need to use when filling tax return in the US? 12/31/09 ?

Is there a proper site to use for the rate?

Thanx...................

nelsona · Post by **nelsona** » Sat Feb 27, 2010 7:31 pm

bank of canada.

You use the yearly average.

richarooca · Post by **richarooca** » Sat Feb 27, 2010 8:40 pm

Here's an URL:

http://www.bankofcanada.ca/en/rates/exc ... g_pdf.html

Pick the annual average (at the page bottom) for the year you are doing your taxes for....