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Deductions & credits
There are a few very limited cases in which your employer is allowed to pay off your student loans and not have it be considered taxable income to you. This generally applies to certain “public service“ or other jobs at nonprofit organizations, where you are offered a certain amount of loan forgiveness in return for a certain number of years of service. You would have to provide more details about your job and your situation before we could attempt to offer an opinion on whether you would qualify. This is a very complicated area of tax law, and it might be better to get professional advice.
In all other cases, the previous answer is absolutely correct.
July 25, 2020
8:59 PM