Discussion:Reimbursed Education Expenses
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| Revision as of 13:58, 29 January 2008 TonyM (Talk | contribs) (My concern would) ← Previous diff |
Revision as of 16:43, 29 January 2008 Ucimnemc (Talk | contribs) (I would hesitate) Next diff → |
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| {{ForumReplyPost|UserID=TonyM|Date=29 January 2008|Text=My concern would be that an employee is not allowed to deducted expenses that they are entitled to receive reimbursement for but choose not to. Did the taxpayer choose not to get reimbursed when they decided not to stay?}} | {{ForumReplyPost|UserID=TonyM|Date=29 January 2008|Text=My concern would be that an employee is not allowed to deducted expenses that they are entitled to receive reimbursement for but choose not to. Did the taxpayer choose not to get reimbursed when they decided not to stay?}} | ||
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| + | {{ForumReplyPost|UserID=Ucimnemc|Date=29 January 2008|Text=I would hesitate to amend the 2007 or try to claim in 2008 because of issues pointed out by both 94nole and TonyM: | ||
| + | The expenses were incurred in 2007, paid by the employee in 2007, and reimbursed by the employer in 2007. I believe 2007 therefore would be a closed book. The $4000 being repaid to the employer in 2008 is because the employee chose not to fulfill the agreement for the earlier reimbursement. The employee can not claim a credit for reimbursements that are declined.}} | ||
Revision as of 16:43, 29 January 2008
Discussion Forum Index --> Advanced Tax Questions --> Reimbursed Education Expenses
Discussion Forum Index --> Tax Questions --> Reimbursed Education Expenses
| 28 January 2008 | |
| Taxpayer worked for an employer in 2007 who reimbursed education costs. Taxpayer is required to stay with employer one year beyond the reimbursement to prevent having to repay any reimbursements. He was reimbursed 100% of his costs and thus, claimed no education expenses, credits, etc.
Taxpayer has recently found a new position (early 2008) and has decided to leave employer for the new opportunity and is now on the hook to repay the former employer about $4,000 for education expenses reimbursed in 2007. I would expect that the proper handling would be to go back and amend 2007 and claim the education expenses that have now been repaid. What say ye? Anything else I should consider? | |
| 29 January 2008 | |
| Don't think you can amend a return for events that transpired after the end of the year. Recommend claiming the expense in the year that he reimbursed his employer. | |
| 29 January 2008 | |
| Tips,
my concern was that there is no 1098-T in Year 2, the year he paid the employer back. thanks for the thought. | |
| 29 January 2008 | |
| My concern would be that an employee is not allowed to deducted expenses that they are entitled to receive reimbursement for but choose not to. Did the taxpayer choose not to get reimbursed when they decided not to stay? | |
| 29 January 2008 | |
| I would hesitate to amend the 2007 or try to claim in 2008 because of issues pointed out by both 94nole and TonyM:
The expenses were incurred in 2007, paid by the employee in 2007, and reimbursed by the employer in 2007. I believe 2007 therefore would be a closed book. The $4000 being repaid to the employer in 2008 is because the employee chose not to fulfill the agreement for the earlier reimbursement. The employee can not claim a credit for reimbursements that are declined. | |
