I have some USD$ that was converted from Canadian$ many years ago. I no longer know the conversion rate. If I use these USD$ to purchase US stocks and then sell them at a profit, how do I determine what my gain is in Canadian dollars? This is so that I can file my capital gains taxes accurately.|||It's immaterial how you acquired the US$.
When you buy the stocks, you calculate the Adjusted Cost Base in Canadian dollars. In your case, it's as simple as multiplying the US$ price (including commission) by the CA$ exchange rate that day. Now you know your ACB. When you sell, calculate your net proceeds (in CA$), subtract your ACB, and that's your capital gain (or loss).|||If you have no records, you use $0 as your basis.
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