Accounting for a Canada RESP in Turbotax

[sbsvwa]

My wife (dual citizen - born and raised in Canada, now a U.S. citizen living in the U.S.) is the subscriber (owner) of an RESP that was funded when she lived and worked in Canada.  No further contributions have been made to it since she was employed in the U.S., many years ago, and no withdrawals have been made.

How do we account for dividends and other such activity within the RESP on our tax return?

[ThomasM125]

The income earned in the education savings plan would not be taxed until there was a distribution from the fund. So if there was not a distribution in 2023, you don't need to enter anything on your tax return. When there is a distribution, a portion of the distribution that represents income is subject to tax. Also, funds contributed by the Canadian government would represent taxable income to the student for whom the funds were withdrawn.