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T5008 Currency Conversion


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Hi, I did many USD stock trades. 

On Ufile I used the CRA auto-fill function which imported all my stock transactions that my broker gave to the cra via the T5008 form.

I'm wondering for these USD transactions do I need to supply my own exchange rate for each transaction? Or does Ufile do that for me?

On Ufile, for each transaction for the T5008 form, it indicates USD in box 13, but the "exchange rate applicable to the cost or book value" and the "exchange rate applicable to the proceeds of disposition or settlement amount" boxes are empty. Should I be concerned? Or I do need to manually put an exchange rate in those boxes for each of my transactions?

 

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Hello CoryBK76,

UFIle does not apply the foreign exchange rate automatically, you must populate the fields yourself :

Foreign currency13  USD United States, dollar  < - - - HERE
Date of settlement (dd-mm-yyyy)14  05-05-2022
Date of acquisition (dd-mm-yyyy)

If the security had a maturity date,
- select "Yes" if the settlement date was before the maturity date
- else select "No" or leave blank.
 Select the security type
 Type code of securities15  BON Bonds
Quantity of securities16
Identification of securities17
Face amount19 $10,000.00
Cost or book value20 $9,000.00
Exchange rate applicable to the cost or book value  < - - - HERE
Proceeds of disposition or settlement amount21
Exchange rate applicable to the proceeds of disposition or settlement amount < - - - HERE
Outlays and expenses related to the transaction
Exchange rate applicable to the outlays and expenses related to the transaction  < - - - HERE

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Just to clarify the FX application for T5008 that have been autofilled - 

Does Ufile calculate the C$ amount for Box 20 and 21, using the input FX rate and the US$ autofill amounts? 

Or do I need to overwrite the autofill US$ amounts in Box 20 and Box 21 with C$ results that I manually calculate, and include the FX rate used in the calculation?

 

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