My family lives in US now.
I'll cash out RESP principal while EAP remains in account, need I report principal in next year's tax return?
If yes, which form?
How to report RESP principal withdraw in US tax return?
Moderator: Mark T Serbinski CA CPA
Re: How to report RESP principal withdraw in US tax return?
An RESP is an ordinary account in US, so report any income that the account generates while you are a US taxpayer, including any triggered by selling investments. Whether you withdraw funds or not.
Report interest dividends and gains where they would be reported on 1040 (schedule B and D)
Report interest dividends and gains where they would be reported on 1040 (schedule B and D)
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