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Will Student Loan Debts Discharged for Disability Be Taxable Income

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  • 05-03-2018, 08:06 AM
    ransomedbyfire
    Will Student Loan Debts Discharged for Disability Be Taxable Income
    I read that the 2017 tax bill got rid of taxation of student loan debts discharged due to disability.

    Is this correct?

    Will this change apply to loans discharged in 2018 (that is, loans whose 3-year income monitoring period ends in April 2018)?

    What are the odds that the law will change again before the next tax season?
  • 05-03-2018, 09:14 AM
    llworking
    Re: Will Student Loan Debts Discharged for Disability in 2018 Be Taxable Income
    Quote:

    Quoting ransomedbyfire
    View Post
    I read that the 2017 tax bill got rid of taxation of student loan debts discharged due to disability.

    Is this correct?

    Will this change apply to loans discharged in 2018 (that is, loans whose 3-year income monitoring period ends in April 2018)?

    As far a I know it applies to 2018.

    Quote:

    What are the odds that the law will change again before the next tax season?
    I am unwilling to guess on any odds. The government has admitted that they made some errors in the new tax law that need to be fixed, but they had been somewhat vague on all but a small handful of things. Therefore there is no way to know what all they didn't intend to have in the law that got in there by accident.
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