- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I made a withdrawal from an RESP that was 100% after tax contributions and was charged 1/6 of the withdrawal as a transaction charge. Is that amount a tax deduction?
Topics:
October 29, 2019
6:03 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Seniors and students
Ok, so I had an RESP $137.90 and withdrew it all, have t4a slip, what do I do with it?
October 29, 2019
6:03 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Seniors and students
You obviously withdrew the taxable interest portion so that would be why you got a T4A. It must be pretty small on $137.90 but you'd have to report it on your tax return.
October 29, 2019
6:03 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Seniors and students
No. Contributions, transaction fees and any other fees charged in respect of as an RESP are not deductible.
October 29, 2019
6:03 PM