There’s discussion last year, the answer is either way, report RESP distribution in wage line as earned income, or unearned income.
Is there conclusion now?
RESP EAP is reported as earned or unearned income
Moderator: Mark T Serbinski CA CPA
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Re: RESP EAP is reported as earned or unearned income
It isn't earned income.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
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Re: RESP EAP is reported as earned or unearned income
Thanks for the info.
Last year the beneficiary got around 4k EAP, didn’t file return as the income was treated as earned, below 12k.
If it’s unearned income, need report it.
Do you think it’s good idea to file return now for previous years?
Last year the beneficiary got around 4k EAP, didn’t file return as the income was treated as earned, below 12k.
If it’s unearned income, need report it.
Do you think it’s good idea to file return now for previous years?