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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
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Is a forgivable loan from my employer school tuition

Customer Question

Is a forgivable loan from my employer for graduate school tuition considered "employer tuition assistance" for tax purposes?
Submitted: 6 months ago.
Category: Tax
Expert:  Angie replied 6 months ago.
No...there are specific standards employer tuition assistance must meet and anything over $5250 would be included in your wages on box 1 of the W-2. From the little information you gave this doesn't seem to fall into that category
Customer: replied 6 months ago.
So when I am completing the section on additional funding not reported on my 1098-T, I don't need to include the amount of the loan?
Customer: replied 6 months ago.
I am just wondering because it seems to make a huge difference in my refund amount.
Expert:  Angie replied 6 months ago.
no you do not report it.