Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 17, 2023 9:52:39 AM

Do I have to file the money I received from my parents for school as “other income”

The money was register to me and was documented as “for me”. This was RESP money they had saved up.

0 1 417
1 Replies
Level 3
Mar 21, 2023 2:40:48 PM

A T4A will be issued showing the amounts that are taxable and must be included in your return. Depending on which box the amount is on the T4A, you will put that amount in your tax return by going to the left menu and clicking on Income then on T-Slips and then on T4A Pension, Retirement, Annuity where the screen will open and you can enter the RESP amounts in the boxes indicated on the information slip. Remember to click Done to save your entries.

For more information, please visit the Canada Revenue Agency (CRA) website - Line 41800 Special Taxes 

 

Thank you for choosing TurboTax.