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If my employer reimburses me for my tuition, can I still claim the lifetime learning credit for my MBA classes?
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If my employer reimburses me for my tuition, can I still claim the lifetime learning credit for my MBA classes?
No, if your employer reimburses your tuition, you had no out-of-pocket education expense and cannot claim the Lifetime Learning credit.
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If my employer reimburses me for my tuition, can I still claim the lifetime learning credit for my MBA classes?
It's a little complicated. There's pre tax reimbursement and after tax reimbursement.
By law your employer can only give you $5250 maximum, tax free. If your tuition was less than that, and you employer reimbursed it all; it’s safe to assume you cannot claim a credit. You do not even need to enter your 1098-T. You have nothing to claim.
If you got more than $5250, the amount above $5250 is usually already included in box 1 of your w-2. Since you have essentially paid tax on that part, it is considered your after tax money and that amount can be used to claim the tuition credit.