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Education
You say "my student loans were paid in full" rather than "I paid off my student loans".
As others have said, paying off your student loans is not a tax reportable event. If somebody else paid off your loans, it may be reportable, depending on the who and what.
The American Rescue Plan Act includes a provision temporarily modifying the tax treatment of forgiven or discharged student loan debt. Specifically, the law excludes from gross income any qualifying student loans that are discharged between Dec. 31, 2020, and Jan. 1, 2026. During this period, forgiven student loan debt won’t be subject to federal taxation. However, the amount forgiven could be taxable in some states.”
February 6, 2025
7:51 AM