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?
Make a postAsk questions and learn more about your taxes and finances.
mderuijter77
New Member
scorp66
Level 1
baldietax
Level 2
tpmohan23
New Member
erosejoseph
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.