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jodie
New Member

Do I really have to report earnings from my GI Bill Education Assistance?

I've never had to put how much money the GI Bill paid me for education assistance before. Why do I now? Now I can't get any tax credit for my college expenses.
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1 Reply
IsabellaG
Expert Alumni

Do I really have to report earnings from my GI Bill Education Assistance?

You can only claim credit for expenses that you paid that were not paid through GI Bill assistance. This is not new. See this link: https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Are-GI-Benefits-Considered... at the bottom of the page.

The IRS states that your credit will be reduced for any money the GI Bill contributes toward your tuition and college fees. If you pay $5,000 in tuition one year, and the government pays for $4,000, your credit would be based on the $1,000 you paid yourself. 

You could still claim expenses that you paid out of your own pocket.

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