RESP reporting on student's US taxes

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lkl
Posts: 1
Joined: Thu Oct 20, 2011 1:03 am

RESP reporting on student's US taxes

Post by lkl »

I've just discovered this forum and am grateful for many things I have learned already! I have searched RESP topics but haven't been able to discover how exactly an RESP disbursement taxed in the hands of a student in Canada should be reported to the IRS.

My two university-attending children (born in Canada, never lived in US) and I (moved from US in 1985) are dual citizens just getting started on becoming tax compliant via quiet disclosure. My spouse is Canadian and by good fortune our RESP was held in his name only. My tax situation is complex enough for us to use accountants but we were hoping to do the children's taxes ourselves because they are so simple (only student job income and RESP income).

I would very much appreciate information on how (or if) RESP disbursements are declared on our children's US tax returns, including applicable schedules or forms.

Thanks and regards.
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