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Level 2
January 31, 2020
Question

Calculating gain/loss from currency exchange rate for Canadian mortgage

  • January 31, 2020
  • 4 replies
  • 38 views

Hello, I am a US resident. At the end of 2018 I purchased a Canadian rental property with mortgage from a Canadian bank. I make monthly payments - principal and interest. How to calculate the foreign currency gain/loss on the partial repayment? Thank you!

4 replies

MaryK4
Level 15
February 1, 2020

See the link below for the acceptable conversion for US taxes.  

 

Solved: Right exchange rate for currency conversion for ...

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Level 2
February 15, 2020

Hello,

 

thank you for the link.

however, I am looking more likely for some kind of formula to calculate, or a method

 

thanks

Level 13
February 16, 2020

Please see the following article regarding exchange rate gain that may be of assistance.

 

How to Calculate Gain or Loss in Nonfunctional Currency

 

 

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