No, the money you borrow from your parents isn’t taxable. In most cases, a parent-to-child loan agreement has the expectation that the child will repay the amount to the parent. The IRS would consider this arrangement a loan and therefore exempt from taxes. However, if your parents gave you money without expecting to get repaid, it would be viewed as a gift.
If the amount is above the annual gift-giving limit, your parents will have to file a gift tax return. As the borrower, the IRS would see the gift as income, meaning you are still liable to pay income tax on the gift amount.
If you want to avoid paying income tax, you must make sure that you create a loan agreement with your parents with the minimum interest rate applied and other necessary terms mentioned above.