My Student Loan Repayment (SLR) Benefit Notice (0510) from my employer tells me what portion is not taxable, I just don't know where to put this in TurboTax online.
The taxable portion should already be accounted for on your W2 in Box 1,3,5- the Box 14 amount is for your information. If you are not sure, contact your employer.
Legislation signed into law at the close of 2020 extended for five years COVID-19 relief that allows employer-provided student loan repayment as a tax-free benefit to employees under Section 127 of the Internal Revenue Code. Through 2025, employers can continue to make contributions of up to $5,250 per employee annually toward student loan assistance without raising the employee's gross taxable income.
The taxable portion should already be accounted for on your W2 in Box 1,3,5- the Box 14 amount is for your information. If you are not sure, contact your employer.
Legislation signed into law at the close of 2020 extended for five years COVID-19 relief that allows employer-provided student loan repayment as a tax-free benefit to employees under Section 127 of the Internal Revenue Code. Through 2025, employers can continue to make contributions of up to $5,250 per employee annually toward student loan assistance without raising the employee's gross taxable income.