Need Advice

by Bernice
(Toronto, Canada)

I have taken a loan from my bank. They are taking money from my account to pay it off monthly for the next four years. The amount of the loan was for seven thousand dollars and it was for personal reasons. Will I have to declare it on my income tax until it is paid off?? Or not?? I have never taken a loan before, therefore not sure what i need to do.

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