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Old 12-21-2012, 03:15 PM
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Graduate School Education Deduction?

Hello,

I am pursuing my MBA and paid around $12,000 in tuition this year through loans. I also received $5,250 from my company as reimbursement. In researing I found that the only credit I qualify for is the lifetime learning credit. How would I report my tuition expense under lifetime learing credit. Would I have to deduct the $5250 from 12,000 I paid through loans or would I include the $5250 in income? Please help.



Thanks



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