How much of this amount can Renee exclude from her gross income
Chapter19: Deferred Compensation
Section: Chapter Questions
Problem 40P
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Question
Renee works at Indigo Inc. and attends school part-time as part of her company’s educational assistance program. In 2022 her company reimbursed her a total of $6,250 for tuition, books, supplies, fees, etc., related to her schooling. How much of this amount can Renee exclude from her gross income
A. $0, this is a company sponsored benefit and does affect the individual’s return
B. $5,250, the maximum exclusion allowed under an employer’s educational assistance program
C. $5,750, the maximum exclusion allowed under an employer’s educational assistance program
D. $6,250, the maximum exclusion allowed under an employer’s educational assistance program
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