- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
Per the IRS, if your employer reimbursed $5250 or less, it's not taxable.
If you receive educational assistance benefits from your employer under an educational assistance program, you can exclude up to $5,250 of those benefits each year. This means your employer shouldn't include those benefits with your wages, tips, and other compensation shown on your Form W-2, box 1. This also means that you don't have to include the benefits on your income tax return.
You can't use any of the tax-free education expenses paid for by your employer as the basis for any other deduction or credit, including the American opportunity credit and lifetime learning credit.
‎June 5, 2019
3:32 PM