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NT12
New Member

How to put the transferring an RESP in an estate into my name as subscriber in my 2024 taxes

I had an RESP transferred to me after the original subscriber has passed away (it's for my niece who is not my dependent). The RESP has already been maxed out with the 50k + grown another 10k from being invested for a total of 60k.

 

How does this need to be declared on my taxes so that I don't get taxed?

 

(the beneficiary is the same so it's allowed according to the CRA)

1 Reply

How to put the transferring an RESP in an estate into my name as subscriber in my 2024 taxes

There is no tax implication when transferring RESPs. As long is there has not been any over-contributions, then you won’t pay anything to the government for this transfer.