If you are entering T5008 slips into your tax return that are not in Canadian dollars, regardless of how they are entered, you must convert the amounts manually to Canadian dollars.
It is simply outrageous. If I enter the foreign amounts after conversion , these amounts would obviously not match T5008 issued by my broker and hence CRA will make adjustments or audit me which involves expenses on retaining a CPA. When your software converts FX dividends on T5/ T3 , why not for T5008? Is there a bug in your software? If that is the case, you should have alerted the users. Why should I waste so much time? I accidentally came across the mistake. When the boxes are provided for FX rate and currency, then it should convert else you should not have provided the boxes. This is so outrageous. This reflects extremely poorly on your dealings with loyal customer like me who has been using the software for last 18 years.
T5008 Currency Conversion
in Reporting income
Posted
It is simply outrageous. If I enter the foreign amounts after conversion , these amounts would obviously not match T5008 issued by my broker and hence CRA will make adjustments or audit me which involves expenses on retaining a CPA. When your software converts FX dividends on T5/ T3 , why not for T5008? Is there a bug in your software? If that is the case, you should have alerted the users. Why should I waste so much time? I accidentally came across the mistake. When the boxes are provided for FX rate and currency, then it should convert else you should not have provided the boxes. This is so outrageous. This reflects extremely poorly on your dealings with loyal customer like me who has been using the software for last 18 years.