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Education
Hi,
Thank you. So to put an example to this. My tuition costs and I paid to the college $13,250. My employer pays 100% of the tuition. $5,250 is exempt, so my understanding is that my W-2 (in box 1) should show an additional $8,000 of income? Correct? And I assume that no taxes have been taken out when I get reimbursed (not sure) of this yet? Correct.
Then for my yearly return, my 1098T for says that I paid the college $13,250. Instead of reporting the full $13,250, I should only report $8,000? or should I report 0$ since the employer paid everything?
Thanks again.
‎August 16, 2024
4:14 AM