Is the FOREIGN (Canada) Rental Property income and cost automatically converted by TurboTax from Canadian Dollars to US Dollars? Thank you

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No, you will need to convert your amounts from CAD to USD yourself and then enter only the USD amounts in for your Canadian rental income and expenses.

For tax purposes, you should use the Yearly Average Currency Exchange Rates published on the IRS website. Click here to access.

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If the IRS states that a 1099-R was not reported, but the amount is listed in the tax return, how do you reconcile it with the IRS?

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Is the FOREIGN (Canada) Rental Property income and cost automatically converted by TurboTax from Canadian Dollars to US Dollars? Thank you

Is the FOREIGN (Canada) Rental Property income and cost automatically converted by TurboTax from Canadian Dollars to US Dollars? Thank you

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Is the FOREIGN (Canada) Rental Property income and cost automatically converted by TurboTax from Canadian Dollars to US Dollars? Thank you

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Is the FOREIGN (Canada) Rental Property income and cost automatically converted by TurboTax from Canadian Dollars to US Dollars? Thank you

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