Questions tagged [tuition]
The tuition tag has no usage guidance.
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Do I need to file a tax return if I am a nonfiler college student?
I am a college student and since I started college, I put down as a non-filer on FAFSA. This year I am about to turn 24 and I keep receiving a 1098-t, but I don't have any income nor have I ever had a ...
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tuition paid by grandparents directly to college
My daughter (US citizen) will be going to college here (US) beginning this Fall. My parents (Indian citizens) want to pay her first year tuition expenses direct to the University. The University ...
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School's tuition insurance charge eligible for 529 reimbursement?
My son's tuition bill includes around $100 for tuition insurance. Can I have this paid directly from the 529 account to the university, or must I pay that separately?
Articles I've read researching ...
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Can I deposit money into a Colorado 529 and withdraw for expenses in the same year?
I'm getting smart to 529 plans way too late, but also wasn't sure if the kid would go to college and I happen to have come into a bit of money.
I paid $5K for tuition in September 2020 for the fall ...
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How should I record a reimbursement for college tuition?
My dad just gave me $4200 to pay for the college semester, and he expects nothing in return. I would like to correctly record this using double-entry bookkeeping.
Normally, I would just pay for ...
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Should I report Employer Tuition Assistance? (what if it's paid after tax year?)
I live, work and attend school in the U.S.
My employer has a tuition assistance program in place that covers 100% of tuition and eligible expenses up to $5000 per calendar year. My plan was to attend ...
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How much of my $5K/yr tuition tax credit ought I transfer to my mom who earned $40K/yr?
From 2009-2015, I was studying in universities, and earned no income. My parents paid all my tuition. We all live in ON. I filed my taxes, but didn't know about claiming tuition tax credits. I would'...
user40269
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My parents claim they cannot pay for my college education; what are my options?
I have divorced parents, one makes a lot more money than the other, but that one (who makes more money) claims due to court rulings he pays a lot of money to the other parent and that they are wasting ...
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3.5% Interest Student Loan or use all of my savings on Tuition?
I've got one year of University left and luckily I've managed to stash around ~$18k in savings that my expenses never cut into. My tuition for my last year will probably be around $13k.
I hate the ...
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Federal Aid and Tuition Reimbursement at work
My situation is the following:
my wife and I are adults who are trying to complete our first bachelor degrees respectively (we started our degrees and dropped out years ago)
so far, we both have been ...
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Do I not qualify for any education tax breaks?
I'm planning on going back to school for a graduate degree. Looking at the different tax breaks I could find related to education:
The American Opportunity tax credit: This is not an undergraduate ...
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Payment of tuition in reference to gift tax
I am looking to make a career change from a software engineer to become a commercial pilot. Becoming a pilot requires a lot of specialized training and therefore is very expensive.
A few years ago my ...
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Avoid wasting Canadian tuition credit with double taxation on Canadian Income in US
I live in US with income in Canada and have a large amount of unused tuition tax credits in Canada.
My understanding is that when doing US Tax I should report my full Canadian income and the amount ...
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Graduate School Tuition
I thinking about helping a family friend by paying his law school tuition and maybe give him a stipend for books and living expenses. Do I need to create a scholarship or grant to do this or can I ...
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529 plan distributions, taxes, and the 1099-Q
Our oldest kid started college this fall. We have a 529 plan with her as the beneficiary. We took $9400 out of the account this fall to pay for her tuition.
There isn't anything to tax because the ...
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Do I lose potential tax benefits by using my employer's tuition assistance program?
Let's say I plan on attending graduate school part-time and that I am currently employed full-time at a company that offers full tuition reimbursement for graduate school with the catch that I must ...
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Can I take a Tuition and Fees Deduction when receiving third party assistance?
My wife and I took the Tuition and Fees Deduction in 2015 after receiving a 1098-T from her accredited University that had box 2 (Amounts billed for qualified tuition and related expenses) as $5603.80....
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Paying someone's college tuition to avoid gift taxes: how do I show the payment is applied to tuition, not other fees?
According to Section 2503 of the Internal Revenue Code of 1986, a payment made directly to an educational institution to pay for the tuition of a student does not count as a gift to the student for ...
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How to hold value for borrowed cash used to fund school tuition
I need to pay for the tuition for a 2-year graduate school program.
Since I don't have to, and can't, pay tuition of 2 years in advance, but need to pay interest, I want hold the value of my ...
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Unpaid College Tuition - Does Statute of Limitations Apply?
I have over $10K in outstanding debt to my old college. Due to an issue with my parents' tax return my final year of attending, my FAFSA was invalidated, and all financial aid (loans, grants, and ...
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Scholarship Tuition Reimbursment
I recently received a military scholarship which covers all of my tuition and housing at my university. The military will be back-paying the costs, so the university will send a check that reimburses ...
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Do I report 1098-T's box 2 (Amount billed for tuition) amount if I have not paid to it?
I am very confused on this one. In regards to Education Credit Expenses, do I enter box 2 (Amounts billed for qualified tuition and related expense) of form 1098-T if I have not paid on the billed ...
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Can you claim a training course in Canada if you are provided a receipt but not a T2202A form?
I completed a 200h Yoga Teacher Training course in Canada but noticed that most yoga schools are not HRSDC certified providers, so am wondering if tuition tax credits can still be claimed?
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Do part-time courses count as tuition for tax purposes for a work permit holder?
My wife is not a Canadian citizen. As her permanent residence application is in process, she has been given a 2-year open work permit, and she used it to work during the 2016 tax year.
Her conditions ...
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Applying student loan proceeds toward tuition?
Background:
I have been granted a student loan of a few thousand Canadian dollars and accepted into full-time, first-year, first-semester university. I have received a few scholarships which covers ...
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As a parent of a high school student, what should my short-term cash policy be to optimize my college costs?
My daughter will be applying to colleges in 1 year.
Where should I keep my money to optimize my college financial aid eligibility? (parent-plus loans? something else?)
E.g., should I keep as much as ...
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How are taxes calculated on tuition reimbursement above $5250?
My employer has a tuition reimbursement program and I exceeded the $5250 tax exemption limit for the year. How are taxes calculated for this benefit?
The reason I ask is that my employer is ...
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Giving kids annual tax free gift of $28,000
We are planning to pay for kids' education using the annual $28,000 limit of tax free gift. Do we have to send money from each parent's single bank account? If, for instance, I send $28,000 from my ...
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Do I have to file for tax if I don't work at all but just received 1098-T form from my college?
I don't work at all right now. So I thought I wouldn't have to pay for taxes. But then I got this 1098-T form from my college a month ago. So now I'm confused. Can I/Do I still have to file for tax ...
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Accepting money for college tuition from US citizen
I am a student in the US on a F-1 visa.
Can I accept money which will go towards my university tuition from a US citizen?
I have a college checking account here and I don't know if I can accept ...
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Receive Multiple Grants?
Is it possible to receive multiple grants? I was approved for a TAP grant. But is it possible to also get a Pell grant, FSEOG grant, LEAP?
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When does it make financial sense to take advantage of employer's tuition reimbursement program?
Many companies offer tuition reimbursement programs. On the surface, these programs are such that qualified employees can enroll in undergraduate / advanced degree programs (or even take individual ...
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Can Professional Certifications be written off in taxes?
I am currently enrolled in courses outside of school that are for IT certifications.
Question: Can the tuition and the certification vouchers be written off? If so, what is the best way to go about ...
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Keep in state tuition when relocating to another state
My wife and I have lived in NC state for more than 10 years. I enrolled in an online program in the state university for continuing education one year ago. And eventually I will get a degree in 3 or 4 ...
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Is tuition reimbursement considered taxable, earned income?
I am a student paying tuition to attend a University. I worked in a lab, so I received a "reimbursement" on my tuition (that is how the University denoted the compensation). Does this "reimbursement" ...
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Does 1098-T need to be filed by student?
I am filing my taxes via TaxAct, and I am not sure whether my 1098-T Copy B (for students) needs to be reported. On my Copy B it states "This is important tax information and is being furnished to the ...
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Can I claim my daughter as a dependent on my 2014 tax return even though she got married in August?
Can I claim my daughter as a dependent on my 2014 tax return even though she got married in August? She did not live at home but was a full-time student for at least 5 months out of the year, and we ...
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Can one earn money from Lifetime Learning Credit if one does not pay income tax?
I am an independent student with no taxable income. When I file taxes, I do not need to pay any income tax and get no refund. Some students told me that I can get up to 20% of my tuition fees refunded ...
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Can Ontario university students apply for the "30% off Tuition" or any other significant grant offered by OSAP if they attend school outside Ontario?
My daughter is on her way to Dalhousie this fall. I'm almost certain I read (a few months back) that she was eligible for the Ontario 30% but now it appears as if she is not (maybe I originally mis-...
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Tuition related repayment deduction [duplicate]
My issue is similar to
Tax treatment of repaid tuition after employment termination
but I have not enough reputation to comment there.
Megacorp paid my tuition. They made the payment directly to ...
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UK university student finance - should I use my sponsorship money to pay the debt?
I am in the fortunate situation of having both an unconditional offer for a (UK) university I really want to go to, and a sponsorship offer from the company that I have worked for in my gap year, in ...
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Can I claim a tax deduction for college tuition paid but was then reimbursed by my company?
I paid the college tuition for my kid with my credit card and I have received the corresponding form for the tax deduction from the college.
However, my employer has the benefit to cover the fee. In ...
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As a Canadian citizen working in US, can I claim my Canadian university tuition tax credit in US?
I'm a Canadian citizen and started working in US on TN visa since November 2013. I have a fairly large amount of tuition credits from my graduate studies in Canada. Now, that I have my first job (...
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What legal actions should I take to get tuition fees refunded after the school went bankrupt?
I applied to the Northern School of Languages in Leeds and my student visitor visa was refused. But the school has gone bankrupt, and the financial case is now handled by the Ferguson Company Ltd. on ...
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financial statement
i'm a student and in my academic financial statement there is the money which i am supposed to pay for the registration and modules fees on the debit side, which is less than the one on the credit ...
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Tax deduction helping a friend pay tuition
I'm helping a friend pay for tuition. On my taxes, will I be able to make any deductions or get any money back when I file my taxes? This is in the US.
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How do I claim my reimbursed tuition on my taxes?
I got a 1098-T from my school for 2011. I pay the amount but at the end of the semester my company reimburses me. All classes have been marked as Job Related.
Can I use use this amount in my favor ...
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Can BC university tuition tax credits only be applied to income earned in BC?
I completed my undergrad in BC, and I have since moved to Ontario. I have collected tuition tax credits in both provinces, so regardless of where I end up working, I will have tax credits from a ...
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Which payment plan is better to pay for tuition?
My kids go to a private school that's attached to a religious congregation. As far as paying tuition, they offered me a choice between these 2 deals:
$1296 per month (for 12 months).
$1156 per month ...
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Can I roll a College 529 education savings plan into a prepaid tuition plan?
I currently have college savings in a 529 plan (New Hampshire). Recently, Texas started the Texas Tuition Promise Fund which is a prepaid college savings plan. I would like to roll the money I have ...
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