turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Does a "Tuition Exchange" Program Count as "Employer-Provided Assistance"?

I work for a college where one of my benefits is the ability for my wife and I to take classes at my college of employment -- and at other local colleges that are part of the same agreement -- for free.

 

The benefit comes in the form of a tuition waiver for up to 2 classes per semester. We do not receive any money for this benefit because we don't have to pay the tuition, the fee is just completely waived rather than reimbursed.

 

We utilized the benefit this year, but I'm not sure whether I have to report it as "Employer-Provided Assistance" or not. 

 

If this benefit does not count, my wife would meet the requirements for the Lifetime Learning Credit, as she also took classes in the summer that she took normal loans out for. The question came up when entering her 1098-T.

 

Thank you!

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
MinhT1
Expert Alumni

Does a "Tuition Exchange" Program Count as "Employer-Provided Assistance"?

The tuition waiver that you (and your wife) received is tax-free and is not reported on your tax return, even if you received form 1098-T. However, you cannot use the amount of tuition waived to claim education credits. You can only use out-of-pocket education expenses to claim education credits.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
MinhT1
Expert Alumni

Does a "Tuition Exchange" Program Count as "Employer-Provided Assistance"?

The tuition waiver that you (and your wife) received is tax-free and is not reported on your tax return, even if you received form 1098-T. However, you cannot use the amount of tuition waived to claim education credits. You can only use out-of-pocket education expenses to claim education credits.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies