Question about should I claim my loan for college on my taxes :
I’ve already graduated once and I’m currently going back to school full time. I worked for the whole 2009 year but I still needed a loan to pay for school. Should I claim that as income on my taxes? Why or why not?
Answer about should I claim my loan for college on my taxes :
The proceeds of a loan are never taxable income. If you used the loan to pay educational expenses, you may qualify for the Lifetime Learning Credit. Check it out (Form 8863).
source here.
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