Welcome Guest. Register Now!  

Ask TaxGuru » Tax Tips » For 2014 » Student Loan gift as taxable income?

For 2014 Tax Tips For Year 2014.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 11-26-2014, 04:25 PM
Junior Member
  
Join Date: Nov 2014
Posts: 1
Student Loan gift as taxable income?
If an organization provides a gift of money directly to pay off an individual's student loans, is it taxable income? If so, only federal or would it also apply to PA/local tax? How does it get reported?


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply

« Do K-1 Losses offset Short Term Capital Gains? | short term capital gains question »


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
1099C Student Loan Cancellation MissVicky Income 2 08-25-2016 06:56 PM
Settlement will pay off student loans. Is this taxable? proberts Miscellaneous 3 06-28-2014 02:16 AM
Is a gift made from an educational trust on behalf of a student considered income to the student? taxboy9317 Miscellaneous 5 02-15-2014 01:36 AM
Tax: Student Loan Interest Deductions Mani.VV For 2013 2 02-09-2014 11:51 AM
Help with tuition and student loan interest cornbread Estimated Taxes 0 07-28-2008 05:34 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
Ask TaxGuru?
 
Individual
 » Income
 » Estimated Taxes
 » Capital Gains
 » Itemized Deductions
 » IRA/Sep
 » Rental Real-Estate
 » Alternative Minimum Tax
 » Filing Requirements
 » Sole-Proprietorship
 » Medical
 » Auto Expenses
 » Social Security
 » Tax Credit
 » Depreciation
 » Divorce Tax Issues
 » Homeowner Tax
 » Multistate
 
Corporations
 » C-Corporation
 » S-Corporation
 » Limited Liability Company
 » Payroll
 » Multistate Tax Issues
 » Non-Profit Organisation
 » Trusts and Gift Tax Returns
 
Forum for CPAs
 » CPA Forums
 
Financial Planning
 » Estate Planning
 » Retirement Planning
 » Investment Strategy
 » Education Planning
 » Life Insurance
 
 » Tax News
 » Tax Calculators
 » Downloads
 » Contact Us
 
 
» Recent Tax Q&A
No Threads to Display.


Advertise - Contact Us - Ask TaxGuru - Archive - Disclaimer - Privacy Statement - Top
Copyright © 2007, AskTaxGuru.com
Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.1.0