Do I add my federal student loan forgiveness amount onto my taxes when both the federal government and state (NY) do not tax this?

[DavidD66]

No.  Federal Student Loan forgiveness is not taxable, either at the federal level or by the state of New York.  You do not need to report student loan debt forgiven in 2025 on your federal or your New York state tax returns.  An exception would be if you received a Form 1099-C, in which case you would need to enter that on your tax return.  

Note - As of January 1, 2026, many federal student loan forgiveness programs are once again considered taxable income for federal tax purposes, due to the expiration of the exemption in the American Rescue Plan Act. 

[mcrosby03]

Thank you!