Does the calculator handle USD to CAD exchange rates?

Yes. The engine automatically looks up the official daily Bank of Canada exchange rate for every individual trade, dividend, and withholding tax fee as required by the CRA.

IBKR Tax Calculator Canada | CRA Schedule 3 & ACB Tool

Q: Why can't I just use the Interactive Brokers T5008 form?

Interactive Brokers is a US-based platform and uses FIFO (First-In-First-Out) logic for tax reporting. The Canada Revenue Agency (CRA) explicitly forbids FIFO for identical properties like stocks, and requires an Adjusted Cost Base (ACB) using a weighted average. Our calculator fixes this automatically.

Q: Is my financial data safe?

Yes. Your CSV file is processed entirely within the temporary memory of our secure server instance. We do not store, harvest, or track your trade history in any database.

Why the default T5008 isn't enough

Using standard US brokerage reports in Canada can lead to overpaying taxes or triggering CRA audits.

The IBKR Default Way

❌ Uses US FIFO: Calculates capital gains based on First-In-First-Out, violating CRA rules.
❌ Currency Mess: Often uses average exchange rates instead of the exact Bank of Canada daily rate.
❌ Options Chaos: Assigned options are tracked separately, forcing manual premium merging.

THE SOLUTION

Our CRA Smart Engine

✅ True ACB Calculation: Automatically calculates the Weighted Average Cost Base across all your history.
✅ Bank of Canada Rates: Converts every trade and dividend perfectly to CAD using official daily rates.
✅ Automated Options: Merges covered calls and cash-secured puts directly into the stock's cost basis.

Frequently Asked Questions

Why can't I just use the Interactive Brokers T5008 form?

Interactive Brokers is a US-based platform. Their default reporting logic relies on FIFO (First-In-First-Out) valuation. The Canada Revenue Agency (CRA) explicitly requires you to calculate an Adjusted Cost Base (ACB) using a weighted average for identical properties (like stocks). Our tool rebuilds your entire transaction history to meet Canadian standards.

Is my financial data safe and private?

Absolutely. We take privacy seriously. Your CSV file is processed entirely within the temporary memory of the server instance. We do not use databases to store, harvest, or track your personal trade history. Once you close the calculator tab, your data is erased completely.

Why do I need to upload an "All-Time" Activity Statement?

To accurately calculate your capital gains for a sale today, the engine must know when you originally bought those shares (even if it was 5 years ago) to determine the correct ACB. An all-time report gives our system the full picture, but it will only filter and display the tax events for the specific year you select.

What exactly do I get after paying?

You unlock an official CRA Tax Return Summary with the exact numbers you need to input into your tax software (like Wealthsimple Tax or TurboTax) or give to your accountant. This includes your Schedule 3 (Capital Gains), Line 12100 (Foreign Dividends), and Line 40500 (Foreign Tax Credit), along with downloadable, highly detailed CSV breakdown files.

I have a specific question. How can I contact support?

We're here to help! If you encounter any issues with parsing your statement or have questions about the calculation logic, please email us directly at admin@brokertaxcalc.com and we will get back to you as soon as possible.