Discussion:Re: Tution reimbursement
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Discussion Forum Index --> Basic Tax Questions --> Re: Tution reimbursement
Discussion Forum Index --> Tax Questions --> Re: Tution reimbursement
| 22 March 2008 | |
| Client has tution receipt from a college for $9,481. His employer reimbursed him $5,000 for the MBA program. He also spent for books and other study materials ($1,400). Where should I claim these expenses? Which one will help him to lower his tax liabilities? Any help is appreciated. | |
| 24 March 2008 | |
| Assuming the employer reimbursed for books, the difference between $9,481 and 3,600 can be used for either the Lifetime Learning credit or the tuition deduction. Any amount not eligible for either of these benefits might be deductible on Sch. A if the education does not qualify your client for a new job or profession. | |
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