RRSP interest taxable?

sitonatree · Post by **sitonatree** » Wed Apr 09, 2014 9:46 pm

Sorry if this question has been answered before.

I'm filing form 8891 for my RRSP account. There are no distributions. I know TFSA interest income is taxable in US, is interest from RRSP also taxable in US?

Thanks!

nelsona · Post by **nelsona** » Thu Apr 10, 2014 9:56 am

It is unless you elect to defer taxation on 8891. That is one of the functions of that form. It doesn't apply to TFSA and RESP.

sitonatree · Post by **sitonatree** » Thu Apr 10, 2014 11:46 am

Thanks Nelsona. You have always been so helpful.

sitonatree · Post by **sitonatree** » Thu Apr 10, 2014 11:50 am

I made the election to defer the interest, but section 10a requests to include interest income on line 8a, should I put "0" here since I elected to defer or should I put the actual interest amount here without including it on line 8a since I already elect to defer?

nelsona · Post by **nelsona** » Thu Apr 10, 2014 12:20 pm

You need to follow the directions on the form. If you have elected to fefer, you are instructed to STOP after line 8.

sitonatree · Post by **sitonatree** » Thu Apr 10, 2014 12:31 pm

Yes yes, I need better glasses..