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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chessflying
- Posts: 9
- Joined: Wed Oct 06, 2021 9:23 pm
Re: RESP EAP is reported as earned or unearned income
It isn't earned income.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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chessflying
- Posts: 9
- Joined: Wed Oct 06, 2021 9:23 pm
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？