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New Member
posted Apr 15, 2021 7:23:32 AM

Hi, I am being taxed for education assistance received from my employer. How can I calculate how much imputed income will come out my paychecks?

I have requested more than $5,525, anything over that amount I will be taxed (which is what is happening now). However I have now paid more than half of what I requested in paycheck deductions. I am confused on if I am being taxed or just paying for the semester via my wages.

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3 Replies
Level 15
Apr 15, 2021 7:30:20 AM

You are just paying for the semester (the part over $5250) via your wages.

 

There is no "imputed" income.  The amount over $5250 may have been sent directly to the school (instead of included in your pay check), but you effectively "received" it and that amount was included in the box 1 amount on your W-2.

New Member
Apr 15, 2021 12:36:18 PM

Thanks for your response! My employer offers up to $7,000 in education assistance. I requested about $6500 for this semester. $2000 has been deducted from my last two checks under "tuition imputed". $4000 in total. I'm not sure that is what's happening here. I understand anything over $5250 will be taxed but why is so much being deducted? @Hal_Al 

Level 15
Apr 15, 2021 1:06:16 PM

You need to ask your employer that question. It can't be answered here.