How student reports RESP distribution in tax return?

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snowbird
Posts: 29
Joined: Sat Mar 13, 2021 8:37 pm

How student reports RESP distribution in tax return?

Post by snowbird »

My son went to university last year, he is Canadian and moved to states several years ago.
We opened RESP account for him in Canada, each year we report capital gain part in 1040.
We took back principal, he gets part EAP with non-resident tax deducted, NR4 form is issued.
Need he report the money in his own 1040 for year 2020?

By previous post, it's said he just need claim the money as gift and file 3520, but by 2020-17, I understand he 's exempt from filing 3520, 3520-A,
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