RESP EAP is reported as earned or unearned income

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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?
nelsona
Posts: 18311
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. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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?
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