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Student Loan Debt Not Forgiven From Taxes In California

by | Nov 1, 2022 | FTB |

President Biden’s Student Loan Debt Relief Plan will cancel up to $20,000 of debt to Pell Grant recipients, and up to $10,000 to non-Pell Grant recipients. The California Franchise Tax Board is reminding those eligible for the relief (those with individual income less than $125,000, or $250,000 for married couples), that the student loan debt will be taxable in California! The Student Loan Debt Relief Plan does not meet one of the exclusions in California Revenue and Taxation Code (RTC) Sections 17132.11, 17134, or 17144.6, or Section 1098e of the federal Education Code. For more information, click here.


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