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It depends.
See Rev. Rul. 2008-34, which describes the circumstances under which a law school loan may be considered a nontaxable student loan, and the debt forgiveness would be nontaxable. If this is your situation, then it wouldn't be taxable.
But if your LRAP assistance is structured as a grant, it could be considered taxable income.
It depends.
See Rev. Rul. 2008-34, which describes the circumstances under which a law school loan may be considered a nontaxable student loan, and the debt forgiveness would be nontaxable. If this is your situation, then it wouldn't be taxable.
But if your LRAP assistance is structured as a grant, it could be considered taxable income.
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