Hi,
I will need to report more than $250k outside of Canada this year based on cryptocurrency. I am confused about how to fill the T1135.
1) Select the category of specified foreign property held at any time during the year:
Would crypto be a) Funds held outside of Canada; or b) Other property outside of Canada?
2) Description of property
I have multiple wallets and multiple exchange accounts. Should I have a) one category called "Cryptocurrency" or b) break it down by exchange. If b) what would I do about online wallets?
3) Country code:
I'm not sure this question even makes sense. If I used an online wallet (integrated to a browser) there is no country. If I use an exchange like Binance, would I indicate its headquarters or its datacenter (not sure i know). There is a country code of "Other".
Currently I am thinking of a single entry:
1) Other property outside of Canada
2) Cryptocurrency
3) Other
Thanks