I am being sponsored by my company for my MBA. The company pays the school directly (not in my W2), and the school bill is an all-inclusive tuition that includes qualifying tuition, books, housing, and food. When I received my 1098-T, it listed out the qualifying tuition and the nonqualifying. Do I need to pay taxes on the nonqualifying tuition?
No, you will not need to pay taxes on the nonqualifying tuition that’s listed on your 1098-T.
Answered by: Jennifer L. Romberger, CPA, EA, is with Long Financial Group Inc. in Blue Bell, Pa.