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US donations


#1

Would be great to have a currency translation opportunity on the form…


#2

I don’t have many clients where this a factor but I agree it would be a good addition.

I currently add a currency exchange line item as a donation to capture the extra amount.


#3

US donations can only be claimed against US income, so make sure they can be used at all first.
Then I put the calc in the description line ( Charity Name: USD $15 x .7213 = CDN $10.82)


#4

which reminds me of the interesting thing, that it has always been very difficult to determine what the source of the foreign income is in mutual funds. Regarding the source of interest on brokerage accounts, that has become easier with the T1135 reporting many brokerages do now…


#5

That is similar to what I am currently doing. But I believe what Bert was saying and I also think would be a nice idea is to have a small section somewhere after the US Donations total to have an option to enter or pick an exchange rate for the conversion to Canadian dollars. Personally I only have a couple of clients with significant US income and US donations but I am always looking for ways to the make the program better as are I believe the Trilogy team.


#6

by the way, the same may be useful for medical expenses as well…


#7

Maybe next year?