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Anyone notice Interactive Brokers T5008 doesn’t calculate the FX correctly?

  • Last Updated:
  • Jan 15th, 2019 11:26 pm
[OP]
Deal Addict
Jul 3, 2006
1958 posts
575 upvotes

Anyone notice Interactive Brokers T5008 doesn’t calculate the FX correctly?

Do they use the AVG FX rate on settlement date or do they use a different rate? I see different values
1 reply
Deal Addict
Mar 12, 2004
1126 posts
330 upvotes
Toronto, ON
J_u_n_i_o_r_3 wrote:
Jan 7th, 2019 7:58 pm
Do they use the AVG FX rate on settlement date or do they use a different rate? I see different values
I haven't used IB for approx. 10 years. In the past, they only report proceeds of disposition and the number never made sense to me if you trade the same stock intraday. However, I only traded US stocks and USD was set as my base currency.
I used separate Excel sheet to track my trades and rates from Bank of Canada site to calculate ACB and proceeds based on transaction date.
From a CRA perspective, there is no official detailed methodology on calculating CDN equivalent - you just need to be consistent.

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