Hi Allan,

I am a Canadian citizen residing in US and am a US resident (Canadian non-resident). I have USD account in TD where I have 15K USD. I would like to convert this amount into CAD and use it to pay off my mortgage loan. Could you please advise
(1) Would you advise to do the conversion to pay off the mortgage?
(2) Should I convert the whole amount as lump-sum or in batches?
(3) Would I have to pay tax on the conversion to either CRA or to IRS?
Looking at the CAD vs USD, I won’t be benefitting much but since it is the only source of funds that I have, so would like to use them.

Thank you very much for your guidance.