Twin Cities Business Daily

What exchange rate should I use when I am doing my capital gain taxes?

I bought and sold all my stocks during the last 3 months of 2007, when USD was very low. Should I use Bank of Canada's average for the year or should I calculate them based on which month I bought and which month I sold? Can I use the average exchange rate for the last 3 months of the year?

Public Comments

1. You should use the actual daily exchange rate (when your share was bought or sold) as posted by the Bank of Canada.