RESP EAP is reported as earned or unearned income

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
chessflying
Posts: 9
Joined: Wed Oct 06, 2021 9:23 pm

RESP EAP is reported as earned or unearned income

Post by chessflying »

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？
Top
nelsona
Posts: 17950
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: RESP EAP is reported as earned or unearned income

Post by nelsona »

It isn't earned income.
nelsona non grata. Non pro. Search previous posts. Happy Browsing :D
I will be taking may usual break until MAY. In the meantime, please direct your questions to ND.
Top
chessflying
Posts: 9
Joined: Wed Oct 06, 2021 9:23 pm

Re: RESP EAP is reported as earned or unearned income

Post by chessflying »

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？
Top
Post Reply

Return to “Canada / United States Tax & Accounting”