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?

 

Seniors and students

Ok, so I had an RESP $137.90 and withdrew it all, have t4a slip, what do I do with it?

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.
fuzzy
New Member

Seniors and students

No.  Contributions, transaction fees and any other fees charged in respect of as an RESP are not deductible.

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