guile2345
Returning Member

My daughter was enrolled in Children’s Education Fund and her matured in 2020, doe she need to report this as capital gain.

 

Seniors and students

Thanks for asking. No, the Interest earned on the fund is not a capital gain, it is deemed as a separate income from investments. The beneficiary (your daughter) should have received a T4A slip from the source for the Investment or as other income. 

 

Educational Assistance Payments from a Registered Education Savings Plan (RESP) are shown in Box 042 and reported on Line 13000 – Other Income of your tax return.

Also, please read the TurboTax blog on T4A slips.

 

Thank you for choosing TurboTax. 

 

 

guile2345
Returning Member

Seniors and students

Hello, Thank you for the information. 

 

I had not received any T4, and I am trying to reach out to CEFI. 

In the meanwhile, If I did not receive any T4 does that mean that I have nothing to report? 
As I have no idea what is interest earned on these fund. 

 

Regards, 

Young