You'll pick your preferences à la carte, taking item A from the House bill, item B from the Senate bill, and so on. The House bill, however, would make these types of tuition reductions fully taxable. Her tax bill will go through the roof, but her actual available cash will not have increased by a penny. How will Mom pay the tax bill, when all of her hard-earned money is earmarked for your education? The House bill would — you guessed it — remove the exclusion from the law.

Source: Forbes December 08, 2017 18:11 UTC