My company pays for my 30k tuition as well as books and other expenditures for school. Can I still claim the life time learning tax credit on my personal 1040?
2 Answers
In general, you can't take a deduction for an expense that someone else paid. The whole idea of a deduction is that you don't have to pay taxes on this income. If you never received this income, then you aren't paying taxes on it anyway, so to take a deduction for it would be to exclude from your income an amount that was never in your income in the first place.
As littleadv says, if this money is included on your W2, then it IS being reported to the government as income that you received, and so you may be able to take a deduction (if you meet all the other requirements). If it's not on your W2 or a 1099, and you are not otherwise including it in your income, than you cannot deduct it.