turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

AFeezy
New Member

Do I need to claim student loan refund as income ( California)

I received a student loan refund (art institute) will I need to claim as income this year? I'm in California.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Hal_Al
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Do I need to claim student loan refund as income ( 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). 

View solution in original post

2 Replies

Do I need to claim student loan refund as income ( California)

The repayment is not taxed by the IRS or by California. 

Hal_Al
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Do I need to claim student loan refund as income ( 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). 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies