Comments on: Microsoft Money Quirk http://www.canadiancapitalist.com/microsoft-money-quirk/ Helping you invest and prosper Sat, 11 Feb 2012 19:27:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Portfolio Performance Analysis http://www.canadiancapitalist.com/microsoft-money-quirk/#comment-57853 Portfolio Performance Analysis Tue, 24 Jul 2007 11:47:38 +0000 http://www.canadiancapitalist.com/2006/09/14/microsoft-money-quirk#comment-57853 [...] I use Microsoft Money for portfolio analysis despite its quirks in dealing with US equities in taxable portfolios. I make 3 or 4 transactions per month, so it is not hard to enter the data. I would have to enter [...] [...] I use Microsoft Money for portfolio analysis despite its quirks in dealing with US equities in taxable portfolios. I make 3 or 4 transactions per month, so it is not hard to enter the data. I would have to enter [...]

]]> By: Investing WebLog » Blog Archive » United States dollar: Information from Answers.com http://www.canadiancapitalist.com/microsoft-money-quirk/#comment-56659 Investing WebLog » Blog Archive » United States dollar: Information from Answers.com Thu, 19 Jul 2007 06:36:41 +0000 http://www.canadiancapitalist.com/2006/09/14/microsoft-money-quirk#comment-56659 [...] Microsoft Money Quirk … only 200 USD profit since the Canadian dollar … There is a chart with examples. I … shares must be calculated in Canadian dollars. If foreign funds were used to purchase the shares, the exchange … http://www.canadiancapitalist.com/2006/09/14/microsoft-money-quirk [...] [...] Microsoft Money Quirk … only 200 USD profit since the Canadian dollar … There is a chart with examples. I … shares must be calculated in Canadian dollars. If foreign funds were used to purchase the shares, the exchange … http://www.canadiancapitalist.com/2006/09/14/microsoft-money-quirk [...]

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/microsoft-money-quirk/#comment-29134 Canadian Capitalist Sun, 15 Apr 2007 16:23:01 +0000 http://www.canadiancapitalist.com/2006/09/14/microsoft-money-quirk#comment-29134 John: I am not sure how you arrive at the $2000 (CAD) loss. Here is my calculation: Proceeds = $10,000 USD or $11,494 CAD (1CAD = 0.87 USD) Cost = $8,000 USD or $11,428 CAD (1CAD = 0.70 USD) Your gain: $66 CAD That is exactly what the taxtips.ca website says. How did you get the $2,000 CAD loss? John: I am not sure how you arrive at the $2000 (CAD) loss. Here is my calculation:

Proceeds = $10,000 USD or $11,494 CAD (1CAD = 0.87 USD)
Cost = $8,000 USD or $11,428 CAD (1CAD = 0.70 USD)

Your gain: $66 CAD

That is exactly what the taxtips.ca website says. How did you get the $2,000 CAD loss?

]]> By: John http://www.canadiancapitalist.com/microsoft-money-quirk/#comment-29021 John Sun, 15 Apr 2007 04:30:35 +0000 http://www.canadiancapitalist.com/2006/09/14/microsoft-money-quirk#comment-29021 It is really confusing. I bought 8000 USD worth of Bank of America and sold it for 10000 USD. You would think that's a 2000 USD profit but it isn't. It would end up being an only 200 USD profit since the Canadian dollar was under 70 cents when I bought the stock. But it doesn't end there. I've seen a website that says you would subtract the 2000 USD (= 2200 CDN approx.) to factor in the exchange rate gain/loss. USING THIS I WOULD END UP WITH A $2000 CDN LOSS! Check out the site. There is a chart with examples. I usually use the results in Column H, but according to the site, you have to go one step further. http://www.taxtips.ca/personal_income_tax.htm#InterestExpense here is a quote " The adjusted cost base of the foreign shares must be calculated in Canadian dollars. If foreign funds were used to purchase the shares, the exchange rate on the date of the purchase (trading date, not settlement date) is used to convert to Canadian dollars. When shares in the foreign corporation are sold, the proceeds are converted to Canadian dollars using the exchange rate on the date of the sale ( trading date). Part of the capital gain or loss will be gain or loss on foreign exchange." It is really confusing. I bought 8000 USD worth of Bank of America and sold it for 10000 USD. You would think that’s a 2000 USD profit but it isn’t. It would end up being an only 200 USD profit since the Canadian dollar was under 70 cents when I bought the stock. But it doesn’t end there. I’ve seen a website that says you would subtract the 2000 USD (= 2200 CDN approx.) to factor in the exchange rate gain/loss. USING THIS I WOULD END UP WITH A $2000 CDN LOSS! Check out the site. There is a chart with examples. I usually use the results in Column H, but according to the site, you have to go one step further.
http://www.taxtips.ca/personal_income_tax.htm#InterestExpense
here is a quote
” The adjusted cost base of the foreign shares must be calculated in Canadian dollars. If foreign funds were used to purchase the shares, the exchange rate on the date of the purchase (trading date, not settlement date) is used to convert to Canadian dollars.

When shares in the foreign corporation are sold, the proceeds are converted to Canadian dollars using the exchange rate on the date of the sale ( trading date). Part of the capital gain or loss will be gain or loss on foreign exchange.”

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/microsoft-money-quirk/#comment-8317 Canadian Capitalist Sun, 17 Sep 2006 00:42:11 +0000 http://www.canadiancapitalist.com/2006/09/14/microsoft-money-quirk#comment-8317 Hersh: It is not really a limitation for me as most of my USD holdings are within our RRSPs and the gains/losses reported in C$ are accurate. I guess you'd have to use Excel spreadsheets to keep track of gains/losses in USD. Thanks for the heads up. Wow! $9.99 trades is very tempting. Hersh: It is not really a limitation for me as most of my USD holdings are within our RRSPs and the gains/losses reported in C$ are accurate. I guess you’d have to use Excel spreadsheets to keep track of gains/losses in USD.

Thanks for the heads up. Wow! $9.99 trades is very tempting.

]]> By: Hersh http://www.canadiancapitalist.com/microsoft-money-quirk/#comment-8311 Hersh Sat, 16 Sep 2006 23:29:01 +0000 http://www.canadiancapitalist.com/2006/09/14/microsoft-money-quirk#comment-8311 I reported this quirk. How do you plan on getting around this "limitation"? It is really frustrating as I do a majority of my trading in USD$. On a side note, I was recently reading the Globe And Mail, and there is an article comparing online brokers and it looks like E*Trade will be offering $9.99 trading to accounts with assets >50k. Hopefully TD and the other major players will follow suit. I reported this quirk. How do you plan on getting around this “limitation”? It is really frustrating as I do a majority of my trading in USD$.

On a side note, I was recently reading the Globe And Mail, and there is an article comparing online brokers and it looks like E*Trade will be offering $9.99 trading to accounts with assets >50k. Hopefully TD and the other major players will follow suit.

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