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Where on my W2 would it say if any of my financial aid was already included as income? I had tuition reimbursement for one class.

i got a 1098-T form from my university and in box 5 there is an amount
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1 Reply
MaryK4
Employee Tax Expert

Where on my W2 would it say if any of my financial aid was already included as income? I had tuition reimbursement for one class.

Educational benefits that are taxable income are included in Box 1. 

If they are excludable, they are not included on your W2, however, they may be listed under Box 14.  Employer-provided educational assistance up to a maximum of $5,250 is excludable from an employee's wages only if assistance is provided under an educational assistance program under section 127.

 

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