I recently received an inheritance from my recently deceased brother's RRSP. Do I need to claim it as income if I did not receive the T4RSP?

[TurboTaxKim · Accepted solution]

The T4RSP was likely issued in your brother's name and reported on his final tax return. Canada does not have an "inheritance tax", and any funds you receive are tax-free. Only if you were to invest these funds, or they earn income are you required to report the income earned on your own tax return.