I receive a letter from the bank and a T4A for total amounts received for the year from RESP. There are amounts in an RESP that are not taxable to a beneficiary, I can't tell how to differentiate these amounts. Are all EAP amounts Taxable? If they break out CES Grant amounts or P-Grant amounts, do I deduct them from the total T4A amount? I cannot find a clear answer to this anywhere.
The full amount reported in box 42 of the T4A is included in income.
http://www.cra-arc.gc.ca/E/pub/tg/rc4092/rc4092-e.html#P221_13631
The full amount reported in box 42 of the T4A is included in income.
http://www.cra-arc.gc.ca/E/pub/tg/rc4092/rc4092-e.html#P221_13631
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