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Education
Q. What about if you go above that 5250.00 and then they tax the taxes out on your checks. Can you claim anything on the extra taxes that you paid in?
A. Yes. You may use the amount above $5250 to claim the education credit. That is you may treat that amount of tuition, as paid by you, not your employer, since that amount was taxable income to you. Essentially, it was not reimbursement, it was additional salary, because it was taxed. That's why the amount was included in box 1 o your W-2.
Thursday