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I am an American. with a broker account with interactivebrokers. I can change the funds in my account to a another currency and trade in that currency.... Thus buy stocks in thatr currency and have cash in that account in another currency --like Canadian Euro , YEn etc. So if my account is changes to Canadian dollars, how will that that effect me at tax reporting time. Am I right in thinking whatever Canadian dollars I have I will have to figure what American dollars are the equivalent to figure my gain or loss? Combines this with my gain or loss before converting from U.S. dollars?
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