Califiornia Question re Forgiveness of Debt

[Kram BergGold]

My client moved to CA in July and in November got the Dept of Ed to forgive $66k of student loan debt. I assume this is taxable in CA. Please confirm or teach me something new.

[DaveinTexas]

It depends on the reason why it was cancelled

My client moved to CA in July and in November got the Dept of Ed to forgive $66k of student loan debt. I assume this is taxable in CA. Please confirm or teach me something new.

Instead of listing the reasons, I will provide you this link that may be helpful: http://www.finaid.org/loans/forgivenesstaxability.phtml

Quite a thorough explanation, I was taught something.

I meant to say forgiven, not cancelled.

[Kram BergGold]

CA not Federal

I had already found that link, which confirned it was Federally taxable. I was wondering if maybe there was some way it was not taxable in CA.