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Education
There is no requirement to enter a 1098-T on your tax return. It is only an informational document. If your employer paid all your tuition, fees & books, with tax free money*, you are not eligible for the Education Credits
*Employers are allowed to reimburse employees, tax free, for up to $5250. Any money over $5250 is included in the employee's W-2 as income. Tuition paid with the taxed money is eligible for the credits.
One other note: if you were less than a half time student, you are not eligible for American Opportunity Credit, but may be eligible for a less generous credit.
*Employers are allowed to reimburse employees, tax free, for up to $5250. Any money over $5250 is included in the employee's W-2 as income. Tuition paid with the taxed money is eligible for the credits.
One other note: if you were less than a half time student, you are not eligible for American Opportunity Credit, but may be eligible for a less generous credit.
‎June 6, 2019
3:12 AM