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the taxpayer's employer pays for the tuition directly to the university and the employer does not pay for any tuition does the employee still qualify for the lifetime learning credit
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thank you that is what i thought but if you research the lifetime learning credit on IRS website it says you qualify for the LLC if a third party pays for tuition cost would the employer be the third party
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You can't receive a tax free benefit and turn around and take a tax credit for it. That's double dipping. You can only double dip at the ice cream parlor. 🍨
Slava Ukraini!
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From: https://www.irs.gov/credits-deductions/individuals/qualified-ed-expenses
Expenses Cannot Be Paid with Tax-Free Funds
You cannot claim a credit for education expenses paid with tax-free funds. You must reduce the amount of expenses paid with tax-free grants, scholarships and fellowships and other tax-free education help.
From: https://www.irs.gov/help/ita/am-i-eligible-to-claim-an-education-credit
Tax exempt funds include:
- The tax-free parts of scholarships and fellowships applied to qualified expenses
- The tax-free parts of a Pell grants applied to qualified expenses
- Employer-provided educational assistance
- Veterans' educational assistance
- Any other nontaxable (tax-free) payments (other than gifts, inheritances or CARES Act grants) received as educational assistance.
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