Student Loans

Forum|Forum|2 years ago
September 27, 2023
1 reply
1 view

Are student loans considered taxable income in Colorado? I am trying to file my 2022 taxes and my student loans are coming through as taxable income. Did I do something wrong? Since it's saying that my loans are taxable income, I owe instead of getting a return. The loans went directly to my school's financial aid department, I never got a check or any money directly into my hands.

Ask the Experts - Extension - Sept 2023

rschule1

Level 6

Hi There:

Student loans should not be taxable. However there could be missing information that has not been considered. E.G. Did you also have grant income, and if you did then grant income in excess of school expenses could be a taxable event. I'd recommend that you click the "Ask the Expert" option in Turbo Tax online and review your entries with a Turbo Tax expert.

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