[nnvvhh]

Another aspect of this arrangement: you don't pay federal income tax on money you receive as a loan in the US. The money does not count as income because of the matching obligation to pay it back.

[sokoloff]

Said differently, it doesn't count as income because it's not income.

I borrowed just shy of a million dollars to buy my house. That money sure wasn't income...

[prepend]

Is there any county where a loan is counted as income?