HOw do I claim tuition reimbursement on my taxes and can I still get a tax credit or deduction?

Question

If i was reimbursed less than half of my tuition and fees, can I still take a deduction or credit, and how do I report the tuition reimbursement as income??

HELP!!!!!

Answer 1

I believe you take the deduction for the portion you paid and do not claim the covered portion as income but
TaxAct would probably cover all that . . .
The free file link is top center page . . .
You can start now and tweek until april then file.

http://www.irs.gov/

Answer 2

You dont need to report the tuition reimbursement as income because you paid more than what you actually were reimbursed for. You just need to take what you paid for qualified tuition and fees and subtract the amount of your reimbursement and that is what you can claim for the tutiton and fees adjustment or the hope credit or lifetime learning credit on your tax return.

On the other hand if you had recieved more in reimbursemnts than you actually paid you would technically have scholorship income and you would have to report that on line 7 of the 1040.

Answer 3

regularly, you may deduct the money interior the 365 days paid, as a miscellaneous itemized deduction. yet training reimbursement won't have been taxable. If not, you won't declare a deduction for it.