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Received 1098T. Need to know if I can deduct it or not. My employee is paying for my tuition upfront (not being reimbursed). I started school Jan 2017 and 1098T for 2016.

 
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MichaelMc
New Member

Received 1098T. Need to know if I can deduct it or not. My employee is paying for my tuition upfront (not being reimbursed). I started school Jan 2017 and 1098T for 2016.

Unfortunately, no. The general rule is that no "double benefits" are allowed. Do not enter the amounts reported on Form 1098-T if your employer paid your tuition and fees as a nontaxable benefit to you.

Amounts received by an employee under a written educational assistance plan are excluded from taxable income, up to $5,250 per year.

For more information, please see IRS Pub. 970 Tax Benefits for Education.

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MichaelMc
New Member

Received 1098T. Need to know if I can deduct it or not. My employee is paying for my tuition upfront (not being reimbursed). I started school Jan 2017 and 1098T for 2016.

Unfortunately, no. The general rule is that no "double benefits" are allowed. Do not enter the amounts reported on Form 1098-T if your employer paid your tuition and fees as a nontaxable benefit to you.

Amounts received by an employee under a written educational assistance plan are excluded from taxable income, up to $5,250 per year.

For more information, please see IRS Pub. 970 Tax Benefits for Education.

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