Student loan TN RESPngeneral questions

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northmount183
Posts: 9
Joined: Fri Mar 12, 2021 12:11 am

Student loan TN RESPngeneral questions

Post by northmount183 »

I graduated and moved to US on TN visa in Mar/21 so I plan to declare departure from Canada and will be deemed resident in US starting Mar/21. My parents had made a RESP withdrawal to pay my student loan. I will report this withdrawal under T4A for my Canada income tax and I think I will not pay tax in Canada since it will be offset by my tuition credit. My question is do I need to declare this on my US tax and pay extra income tax in US for this portion? I won’t have cad tax credit to offset this Canadian source income since the tax was offset by my tuition credit in Canada. Am I right? Thanks for your help.
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