Relevé 16 - Trust income

If there are any amounts, for example on a T-slip or a stock sale, that are reported in a foreign currency (e.g. in U.S. dollars), you must convert them to Canadian dollars before you enter them.

Enter income that is not on a T-slip, including US social security, in the Foreign T-Slips and Receipts entry screen. Do not convert these amounts to Canadian dollars. TurboTax converts the amounts automatically based on the exchange rate you enter.

Where do I get the exchange rate?

Where do I get the exchange rate?

If you received the amount on a certain day and you know the exchange rate for that day, use it. For example, if you received a capital gain, use the rate at the time the gain was realized.

However, if you received the amount over time, use the average exchange rate over the period (daily, monthly, or annually) in which the income was earned. To find the average exchange rate, To find the average exchange rate, see the Bank of Canada's Exchange Rates web page..