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posted Jun 3, 2019 10:14:50 AM

Are students loans taxable? Regardless if they are private/direct or federal student loans they are NOT considered income, correct?

I'm just want to make sure that I am not going to be in a bind and owe when it comes to filing my 2018 taxes because of current student loans private/direct & federal (note: I have not graduated yet so I have no current payments)

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Level 15
Jun 3, 2019 10:14:51 AM

Student loans are personal loans and are not reported on a tax return.  The student loan interest paid is deductible on a federal tax return as an Adjustment to Income.