I had my loan Discharge my question is do I need to report it in my State tax return? I live in California. Also would it be consider student loans forgiven under the American Rescue Plan Act?
01699
1 Replies
torobert222
Level 3
Mar 31, 2025 1:01:10 PM
ARPA refers to the American Rescue Plan Act, passed in March 2021. It made student loan forgiveness tax-free at the federal level through 2025. California does not yet conform to federal law on this exemption.