DaveF1006
Employee Tax Expert

Education

It depends. According to this Turbo Tax link both Champ Carl and georgesT give very good answers.

  1. If your employer reimbursement is included in your W2 wages, you may claim an educational credit. 
  2. If not, then no. 
  3. In the current tax law, employer can pay an employee up to $5,250 in educational assistance benefits each year on a nontaxable basis. The exclusion applies whether or not the courses taken are related to the employee's current job responsibilities or are part of a degree program.
  4. Any amount paid by your employer over $5250 is taxable to you and that excess amount that is taxable can be claimed as an educational credit to you.
  5. Remember, these are educational expenses leading to either a BA or MA degree and not designed to improve job skills.
  6. I hope this helps but reach back to us anytime.

 

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