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The T1135 and functional currency

by Intuit• Updated 1 week ago

Note: The T1135 in the T1 and T3 modules must always be completed in Canadian dollars.

The T1135 for 2023 in the T1 and T3 modules doesn't let you select a functional currency. The T1135 states:

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The election is made through filing election form T1296. The requirements to make this election:

A group of people standing around a table covered in paperwork.

Personal and trust filers can’t make this election, so they can’t use a functional currency to report amounts on the T1135.

For reference the election form T1296 can be found at this link.