The credit is reported on line 13 of Schedule 3 (Form 1040), Additional Credits and Payments
Students commit to work for KPMG for three years after graduation; otherwise, 100% of the tuition, fees, books, and stipend (including taxes paid) must be paid back to KPMG. If the student is required to repay the amounts paid by KPMG for their education, the student may be able to deduct the repayment under the claim – of – right d is another example of how employers are attracting talented employees while also assisting with the cost to educate these individuals.
Employees who recognized income as a result of the employer’s paying their student loan debt and who in a later year are required to repay all or a portion of the student loan payment to the employer, may be able to take a deduction under the claim – of – right dount repaid in the year of repayment. 21