Must Have

Must I use the taxable portion of employer education assistance to offset my expenses for the lifetime credit?

My expenses (tuition and such were about $17500) while I received about $16000 in employer education assistance. Now I know that the tax free portion of this assistance (5250) must be used to offset these expenses but does the rest of the assistancce also have to be used for purposes of the lifetime credit. Thanks.

Assumptions:
Your employer has included the balance of the assistance as taxable income to you (16,000 – 5,250 = 10,750).

Since you have paid (or will have to pay) taxes on the 10,750 its up to you how you wish to account for it. It doesn’t have to be used to offset educational expenses (because you have a tax liability for it). If the employer had not reported the excess on your W-2, then you didn’t incur an expense and MUST reduce the educational expense.

Example 1: Your employer paid the 16,000 and DIDN’T include it as taxable income to you. Your income went up 0, and your expense went up 1,000. You can use only the 1,000 for educational credits.

Example 2: Your employer DID include the 16,000 as income to you. Your income went up 10,750 (16K less the 5250) and your expenses went up 11,750 (17K less the 5250). You can use the educational credit for the 11,750.

Roxette – It Must Have Been Love

SOPHISTICATED GOLD TONE HOOP EARRINGS, REALLY NICE MUST HAVE! $1.99

1948 TUCKER Very RARE DIECAST car 1/24 FRANKLIN MINT !!MUST HAVE!!! $49.95

SUPER FINE “CORO” LEAF EARRINGS, BEAUTIFUL GOLD TONE AND CLIP BACKS, A MUST HAVE $2.29

#E3 MUST HAVE WHITE FOX FUR HAT TIP END BROWN 22″INCHES $89.99

northern soul CONTINENTAL FOUR Heaven Must Have Sent You HEAR SOUNDCLIP!! $10.00

Southpole Large Zippered Hoodie in Red. Nice and Warm! Must have!!! $19.95

SEXY Bra Straps, Glamorous, Must Have. six PINK daisies. $0.01

A Birthday Book (A MUST HAVE) RARE $25.00

100 PC WHOLESALE LOT. SEXY Bra Straps, Glamorous, Must Have. $49.99

SEXY Bra Straps, Glamorous, Must Have. six BLACK daisies. $0.01

SEXY Bra Straps, Glamorous, Must Have. six ORANGE daisies. $0.01

UN Scott #125.3 MINT NH must have stamps to complete you Collection $4.50

#X20 MUST HAVE OPOSSUM BR FUR VEST+ TRENCH 14/15 $69.99

NWT Hollister Beach Patrol Large Navy Must have!!!! $39.00

UN Scott #125.3 FD use of cover MUST have stamps to complete you Collection $5.50

It Must Have Been Something CD Harry Shearer Le Show 94 $3.95

Star Trek 8×10 signed by 3 rp COLOR Star Trek -WOW- A TREKKIE MUST HAVE $6.99

Ann Taylor Slacks Size 4….Must Have!!!! $9.99

VINTAGE CHRISTMAS ORNAMENTS/ANODIZED ALUMINUM BELLS/CLAPPERS/MUST HAVE!! $24.99

NHL OTTAWA SENATORS LUNCHBOX, NEW, SIZE: 8 X 6 1/2 X 4″ ,FUN ITEM A MUST HAVE $0.88

USA SHIP QUICK Lipo Battery INDICATOR Monitor 2-6 cell VOLTAGE tester must have $4.99

Ann Taylor Silk Shell 8P Gorgeous….Must Have!!!! $9.99

Must have PETA shirt for farmers! Redneck Livestock XL $18.00

UN Scott #125.3 FD coverFeb24/1971 MUST have stamps to complete you Collection $4.50

Girls 12 Months Skort NWT GREAT FOR SUMMER A MUST HAVE DONT MISS!!!! $0.99

UN Scott #125.1 FD cover May,29/64 MUST have stamps to complete you Collection $4.50

UN Scott #125.1 [a] [b] MINT NH must have stamps to complete you Collection $2.50

VINTAGE IRWIN CHRISTMAS SLEIGH & SANTA CANDY CONTAINER/DECORATION–MUST HAVE!! $15.00

VINTAGE NOMA CHRISTMAS LIGHTS/RED CAP/C9/CELLUOID PLUGS/CLOTH STRING/MUST HAVE!! $9.99

Locsters 7 DESERT DAWG SOLDIER Homies MUST HAVE $15.80

Finished Cross Stitch Card For BABY SOOOO CUTE MUST HAVE $4.50

Finished Cross Stitch Card For Friends And Neighbors LOOK SEE MUST HAVE !!!!!!! $4.50

Finished Cross Stitch Card For BABY SOOOO CUTE MUST HAVE $5.50

Cry Silent Tears. NEW. Joe Peters. Must read. Have tissues handy $0.99

Must-Have Capes by Darla Sims (3 to Knit and 3 to Crochet) (2007, Paperback) $3.99

Chemex Coffee Filters – 100 Chemex Bonded Unbleached Filter Squares FSU-100 $6.00 Chemex filters are 20-30% heavier than competitive brands. They remove even the finest sediment particles, as well as undesirable oils and fats. The formulation of the filter permits the proper infusion time by regulating the filtration rate – not too slow, not too fast. Good infusion of the coffee grounds gives coffee a richer flavor while at the same time making possible precise fractional extra…

Cuisinart ICE-21 Frozen Yogurt-Ice Cream & Sorbet Maker Cuisinart Automatic Frozen Yogurt – Ice Cream and Sorbet Maker. The fully Automatic Cuisinart Frozen Yogurt – Ice Cream & Sorbet Maker lets you make your favorites in 20 minutes or less, with no fuss and no mess. Just add ingredients to the bowl, press ON and the machine does the rest. Features: New patent-pending mixing paddle makes frozen treats in 20 minutes or less Large capacity – makes up to…

Wilton 2104-2546 53 Piece Supreme Cake Decorating Set $17.75 Essential tips, tools, and colors for decorating a cake for any occasion! Includes: 18 decorating tips (#2: standard round, #3: standard round, #5: standard round, #7: standard round, #12: standard round, #16: standard open star, #18: standard open star, #21: standard open star, #32: open star, #48: double ridged basketweave, #67: small ridged leaves, #101: small petal, #103: standard petal, #104 …

99 Must-Have Chillout Classics $1.99 …

99 Must-Have Piano Masterpieces $1.99 …

66 Must-Have Spanish Guitar Masterpieces $2.99 …

Episode 16: End Prog $0.99 …

Schoolhouse Rock: Money Classroom Edition [Interactive DVD] $20.87 The Schoolhouse Rock creative team sets its sights on economic matters with Schoolhouse Rock: Money. Songs like Where the Money Goes and The Check’s in the Mail use catchy melodies to teach kids about the national debt and the importance of fiscal responsibility. Includes a bonus interactive assessment activity to reinforce key learnings, Public Performance Rights, and printable educator’s guide….

The Science of Disney Imagineering: Levers & Pulleys Classroom Edition [Interactive DVD] $19.93 SCIENCE OF DISNEY IMAGINEERING:LEVERS – DVD Movie…

Cherokee Rose $1.99 …

Pixi Must Have Kit $39 ($130 Value) This all-in-one makeup purse contains coordinated colours to bring your face alive, with the company of four mini makeup brushes to create your perfect face. Two eye colours, two lip colours and a cheek glow all in silky smooth deluxe textures that will enhance your natural beauty, not mask it. Revitalize and enhance your natural beauty in a simple all in one kit. Pixi bestselling concept to suit brunettes, blondes and redheads has now been taken to the next level with these must have colours and tools. The perfect gift for your best friend or a wonderful treat for yourself. Vitamin E: A powerful anti aging and antioxidant ingredient. Aloe Vera Extract: Soothes and heals stressed skin. Mineral Powder Pigments: Natural pigment to add lustre and colour. Macadamia Seed Oil: Helps with skin regeneration and keeping skin silky smooth. Titanium Dioxide: Natural mineral with SPF factor. Directions: 1. It’s a good idea to curl your lashes before you apply any eye makeup. 2. Lightly dip the largest eye brush into the light eyeshade colour and apply to eyelid. 3. Use the remaining pigment on the brush and sweep over brow bone, just under eyebrow. 4. Now pick up the black bristle eye brush and dip into the deeper eyeshade and sweep back and forth into the eye socket. 5. Use the smallest eye brush to line your upper line as close to the lash root as possible. 6. Now pick up the blusher brush and dip into the large cheek pan. Twirl the cheek color onto the apples of the cheeks in circular movements, blending out towards the ear. 7. To brighten the eye also add some blusher color to the middle of the eyelid on top of the base lid colour. Looks stunning. 8. Pick up the lip brush included and swirl brush around into the deeper colour for more hue, or into the lighter colour for more of a glow only. You could also use the light colour on top of any colour as the lip highlighter, adding it to the middle of the bottom and top lips for an illusion of fuller lips. Net Weight: 8.5 g/0.3oz Ingredients: Eye Colour: Mica (Cl77019), Talc, Nylon-12, Kaolin, Octyl Palmitate, Pertolatum, Magnesium Stearate, Dimethicone, Phenoxyethanol, Chloroxylenol. May Contain: [+/- Titanium Dioxide (CI 77891), FD&C Yellow No.5 (Cl19140), Iron Oxides (Cl77491, Cl77492, Cl77499), Polyethylene Terephthalate]. Cheek Colour: Talc, Nylon-12, Pentaerythrityl Tetraisostearate, Dimethicone, Aluminum Starch Octenylsuccinate, Magnesium Stearate, Jojoba Oil, Phenoxyethanol, Chloroxylenol. May Contain: Mica (Cl77019), Titanium Dioxide (CI 77891), Iron Oxides (Cl77491, Cl77492, Cl77499)]. Lip Colour: Caprylic/Capric Triglyceride, Bis-Diglyceryl Polyacyladipate, Pentaerythrityl Tetraisostearate, Microcrystalline Wax, Cetearyl Alcohol, Ozokerite, Castor Oil, Jojoba Oil, Mineral Oil / Coconut (Cocos-Nucifera) Oil / Aloe Barbadensis Extract, Tocopheryl Acetate, Flavor, Methyl Paraben, Propyl Paraben. May Contain: Mica (CI 77019), Titanium Dioxide (CI 77891), Iron Oxides (CI 77492, CI

I Must Have Bobo! $10.96 No Synopsis Available

Must Have Bags $11.83 Publication Date: 2004/07/01 Number of Pages: 20 Binding Type: Paperback Language: English Depth: 0.25 Width: 8.75 Height: 11.00

Helicopter MUST-HAVE TOOL Kits $79.95 This kits include 1x Ball Link Turn Buckle 1x Ball Link Sizing 2 x 1.5mm Hexangular Screwdriver 1 x 2.0mm Hexangular Screwdriver 1x 2.5mm Hexangular Screwdriver 1 x 0#2.0mm Slotted Screwdriver 1 x + 4.00mm Screwdriver 1 x + 3mm Screwdriver 1 x 4.0mm Hexagonal socket 1 x 5.5mm Hexagonal socket 1 x Ball Link Pliers 1 x Long Nose pliers 1 x Cutter Pliers 1 x Pitch Gauge Great tool for all RC hobby!

I Have No Mouth I Must Scream $20.44 First published in 1967 and reissued in 1983, I Have No Mouth and I Must Scream contains seven stories with copyrights ranging from 1958 through 1967. This edition contains the original introduction by Theodore Sturgeon and the original foreword by Harlan Ellison, along with a brief update comment by Ellison that was added in the 1983 edition. Among Ellisons more famous stories, two consistently noted as among his very best ever are the title story and the volumes concluding one, Pretty Maggie Moneyeyes. Since Ellison himself strongly resists categorization of his work, we wont call them science fiction, or SF, or speculative fiction or horror or anything else except compelling reading experiences that are sui generis. They could only have been written by Harlan Ellison and they are incomparably original. Author: Ellison, Harlan Binding Type: Paperback Number of Pages: 146 Publication Date: 2009/08/01 Language: English Dimensions: 8.50 x 5.50 x 0.34 inches

Pixi Must Have Kit – No.2 Bronze Bombshell $39 ($130 Value) This all-in-one makeup purse contains coordinated colours to bring your face alive, with the company of four mini makeup brushes to create your perfect face. Two eye colours, two lip colours and a cheek glow all in silky smooth deluxe textures that will enhance your natural beauty, not mask it. Revitalize and enhance your natural beauty in a simple all in one kit. Pixi bestselling concept to suit brunettes, blondes and redheads has now been taken to the next level with these must have colours and tools. The perfect gift for your best friend or a wonderful treat for yourself. Vitamin E: A powerful anti aging and antioxidant ingredient. Aloe Vera Extract: Soothes and heals stressed skin. Mineral Powder Pigments: Natural pigment to add lustre and colour. Macadamia Seed Oil: Helps with skin regeneration and keeping skin silky smooth. Titanium Dioxide: Natural mineral with SPF factor. Directions: 1. It’s a good idea to curl your lashes before you apply any eye makeup. 2. Lightly dip the largest eye brush into the light eyeshade colour and apply to eyelid. 3. Use the remaining pigment on the brush and sweep over brow bone, just under eyebrow. 4. Now pick up the black bristle eye brush and dip into the deeper eyeshade and sweep back and forth into the eye socket. 5. Use the smallest eye brush to line your upper line as close to the lash root as possible. 6. Now pick up the blusher brush and dip into the large cheek pan. Twirl the cheek color onto the apples of the cheeks in circular movements, blending out towards the ear. 7. To brighten the eye also add some blusher color to the middle of the eyelid on top of the base lid colour. Looks stunning. 8. Pick up the lip brush included and swirl brush around into the deeper colour for more hue, or into the lighter colour for more of a glow only. You could also use the light colour on top of any colour as the lip highlighter, adding it to the middle of the bottom and top lips for an illusion of fuller lips. Net Weight: 8.5 g/0.3oz Ingredients: Eye Colour: Mica (Cl77019), Talc, Nylon-12, Kaolin, Octyl Palmitate, Pertolatum, Magnesium Stearate, Dimethicone, Phenoxyethanol, Chloroxylenol. May Contain: [+/- Titanium Dioxide (CI 77891), FD&C Yellow No.5 (Cl19140), Iron Oxides (Cl77491, Cl77492, Cl77499), Polyethylene Terephthalate]. Cheek Colour: Talc, Nylon-12, Pentaerythrityl Tetraisostearate, Dimethicone, Aluminum Starch Octenylsuccinate, Magnesium Stearate, Jojoba Oil, Phenoxyethanol, Chloroxylenol. May Contain: Mica (Cl77019), Titanium Dioxide (CI 77891), Iron Oxides (Cl77491, Cl77492, Cl77499)]. Lip Colour: Caprylic/Capric Triglyceride, Bis-Diglyceryl Polyacyladipate, Pentaerythrityl Tetraisostearate, Microcrystalline Wax, Cetearyl Alcohol, Ozokerite, Castor Oil, Jojoba Oil, Mineral Oil / Coconut (Cocos-Nucifera) Oil / Aloe Barbadensis Extract, Tocopheryl Acetate, Flavor, Methyl Paraben, Propyl Paraben. May Contain: Mica (CI 77019), Titanium Dioxide (CI 77891), Iron Oxides (CI 77492, CI

Elizabeth Arden Ceramide Eyes Must Have Set $21.5 A $44 ValueGive your eyes the treatment and the drama they deserve with this eye-opening gift set.Kit Includes:Ceramide Lash Extending Treatment Mascara in Black, 0.25ozElizabeth Arden’s first-ever mascara infused with Ceramide Triple Complex and Keravis to help lengthen, define and revitalize lashes.All Gone Eye and Lip Makeup Remover, 1.7ozThis makeup remover easily and gently removes even transfer resistant and waterproof makeup.Ceramide Plump Perfect Ultra Lift and Firm Eye Cream SPF 15, 0.17ozThis eye cream plumps up the look of fine lines and crow’s feet as it lifts and firms the appearance of skin in the delicate eye area.Limited quantities. Available while supplies last.

POP Beauty Glitter Must-Have Kit $15 This amazing set of gorgeous glitters transforms any day look into a sparkly party look! This rainbow of bright glitters reflects the light to highlight and enhance eyes and face. They also work brilliantly mixed with nail color, hair gel or just sprinkle over body for an all over fairy sparkle. Add wow & glam to any makeover! Kit contains glitter in 12 colours: Rainbow, Silver, Benzo Blue, Turquoise, Sky Blue, Deep Green, Apple Green, Taro, Peach, Red, Gold, Bronze Copper. Directions: Dust on to skin, sprinkle over your hair or miz with nail polish or body lotion. Net Weight: 1 g/0.03 oz. (x 12)