3416403
I received a student loan refund (art institute) will I need to claim as income this year? I'm in California.
You'll need to sign in or create an account to connect with an expert.
Q. Do I need to claim student loan refund as income?
A. No. Loan money was always "your money" (because you have to pay off the loan, later) and not income. If you got a refund of scholarship money (instead of loans), then that might be treated differently (depending on what other expenses you have).
The repayment is not taxed by the IRS or by California.
Q. Do I need to claim student loan refund as income?
A. No. Loan money was always "your money" (because you have to pay off the loan, later) and not income. If you got a refund of scholarship money (instead of loans), then that might be treated differently (depending on what other expenses you have).
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
ajm2281
Returning Member
waynelandry1
Returning Member
Lukas1994
Level 2
jigga27
New Member
branmill799
New Member