I was reimbursed for my tuition in 2024.
1. 5250 not taxable
2. 14750 Taxed. on my paycheck I received 3 payments throughout the year, and they withheld the taxes on the amounts over 5250.
3. I paid a total of 20,846 for Tuition. the limit from the company was 20,000, so the rest was out of pocket. (Also had to pay the difference from the tax deductions out of pocket.)
On my W-2, none of the tuition reimbursement was included in my income which after reading looks like it may be considered a "fringe benefit"? When filling out the scholarship/grants section, do I include any amount in the "Employer assistance" box?
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Q. When filling out the scholarship/grants section, do I include any amount in the "Employer assistance" box?
A. Yes, but only the $5250 tax free part. Do not enter the taxed $14750.
You say "I was reimbursed for my tuition in 2024, $14750 taxed." And that is the correct way. By law your employer can only give you $5250 tax free.
But then you say "On my W-2, none of the tuition reimbursement was included in my income." That's not correct. Your employer is required to include the $14750 in box 1 of your W-2. You need to talk to your employer about what's going on. Most likely, it is included, and you're just misreading it. There is not a separate entry for the $14750 anywhere else on the W-2*. It's just included in the box 1 amount.
*Sometimes there's a notation in box 14 or (less often) in box 12. But even then, the amount is still included in box 1.
I think I might see where I was thrown off. The amount in Box 1 is almost equal to my salary, so I assumed the tuition reimbursement was not included. I did not think that box 1 might not include pre-tax deductions such as HSA/retirement contributions etc..?
Yes, that sounds right. Box 5 usually does include such pre-tax deductions.
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