How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
Type Your Tax Question Here...
Wallstreet Esq. is online now
A new question is answered every 9 seconds

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: 1 year ago.
Category: Tax
Expert:  Angie replied 1 year 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 1 year 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 1 year ago.
I am just wondering because it seems to make a huge difference in my refund amount.
Expert:  Angie replied 1 year ago.
no you do not report it.