Are currency conversion fees for an investment deductible?

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rtaft
Posts: 13
Joined: Tue Mar 04, 2014 7:35 pm

Are currency conversion fees for an investment deductible?

Post by rtaft »

We have an investment account that has both a US and Canadian sub accounts for trading on both markets. Since we are in the US, the Canadian assets are slowly being sold and transferred to the US account. However we get hit with fees to convert the currency from CND to USD and move it between the sub accounts. Since this is all within the investment account, is it tax deductible from the capital gains?
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nelsona
Posts: 18697
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

no.
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
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