How do i file my US trading activity on Schedule 3

[codemaxta]

I traded mostly stocks on the NASDAQ and DOW via my Scotia Mcleod account.

I've received a summary of my 2006 activity. Do I need to enter each trade into a Schedule 3? Do I need to convert to my US activity to CAD?


Anybody know?

[asdfvcx]

Yes, you need to do the conversion and you do need to enter each trade (although you can probably get away with just one line per stock you have traded, if you traded the same company's stock multiple times).

When doing to conversion you have the option of using the exact daily rate of exchange for each of the buy and sell transactions.

Or you can use the 2006 average conversion for all of your transactions in 2006, and the 2005 average conversion for all 2005 transactions, etc.

You can find both the yearly averages and the daily rates on the Bank of Canada website.

[jerryhung]

I used 2006 average from BoC for my USD interest (much easier than day-of-trade rate)

but you should be consistent, meaning next year you should use 2007 average, and so on...