I have a 1098T from an employee of the University of Illinois. The University pays for
her Tuition of $4,155.00 as an employee benefit. There is no cost to the Employee. She gets a 1098T with an Amount in box 2. All other boxs are blank. The university says it exempts the first $5,250 accordance with IRS Code Section 127. Any in excess of that amount if taxable income. What am I to do with the 1098T? Maybe I should ignore it?
her Tuition of $4,155.00 as an employee benefit. There is no cost to the Employee. She gets a 1098T with an Amount in box 2. All other boxs are blank. The university says it exempts the first $5,250 accordance with IRS Code Section 127. Any in excess of that amount if taxable income. What am I to do with the 1098T? Maybe I should ignore it?
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