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For 2011 1040 tax filing, I had earlier taken bank of Canada rate of 1 C$= 1.011 US$.
Before filing my tax return, I noticed IRS rate of 1 C$= 0.972 US$. Not that it makes a big difference but surprised to note a 4 % difference in exchage rates.
the bank of canada rate you chose was not correct for the year.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best