I was forgiven $12,000 in student loan debt in 2021 by Navient, a private student loan lender. I read in the Publication 4681 that it is an exception to claim as income?

Troubled-TaxTike · ‎March 17, 2022

MinhT1 · ‎March 17, 2022

Yes. Student loan cancellations between 2021 and 2025 are excluded from income (American Rescue Plan 2021). You do not report your form 1099-C on your tax return.

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Troubled-TaxTike · ‎March 20, 2022

Thank you so much for your kindness!

View solution in original post

MinhT1 · ‎March 17, 2022

Yes. Student loan cancellations between 2021 and 2025 are excluded from income (American Rescue Plan 2021). You do not report your form 1099-C on your tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Troubled-TaxTike · ‎March 20, 2022

Thank you so much for your kindness!

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I was forgiven $12,000 in student loan debt in 2021 by Navient, a private student loan lender. I read in the Publication 4681 that it is an exception to claim as income?