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2 replies

Critter
Critter
Employee
November 19, 2019

Loans are not income and are not reported on an income tax return.  Now if you pay for qualified education expenses that could be used for the Education Credits and those could reduce your income tax on your or your parents tax return if they claim you as a dependent. 

    Carl11_2
    Carl11_2
    Employee
    November 20, 2019

    Borrowed money is not your money. Never was, is not now and never will be. It doesn't get reported anywhere on any tax return. Remember, you will eventually have to pay it back to whomever or whatever entity you borrowed the money from.

     

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