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SC information letter #22-14
South Carolina Department of Revenue
South Carolina Department of Revenue
Abstract
For federal income tax purposes, the receipt of a loan is not a taxable event. Since South Carolina adopts Internal Revenue Code Section 108, to the extent a student loan described in Internal Revenue Code Section 108(f) is forgiven for federal income tax purposes and excluded from federal taxable income, then the amount is also excluded from South Carolina taxable income.
Issue Date
2022-09-01
Keywords
Income tax--South Carolina, Student loans--Taxation--South Carolina
Type
Text
Rights
Copyright status determined to be in the public domain on April 27, 2020 by United States Supreme Court ruling (Georgia et al., Petitioners v. Public.Resource.Org, Inc. : 590 U.S.__(2020))
Digitization Specifications
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