No, in almost every circumstance, personal loans are non-taxable. Although personal loans technically become part of your income, since they have to be repaid to a lender, they are not considered taxable income by the IRS. There is only one exception to this rule. The IRS views any personal loan that is forgiven by the lender as taxable income. Technically, when a loan is forgiven by a lender, the borrower is receiving cancellation of debt income. This cancellation of debt income then becomes part of the borrower's taxable income for the year in which the loan was forgiven and the borrower should receive a 1099-c filing from the lender.
Now, there are some exceptions to loan forgiveness such as the cancellation of debt income rule. Some professions, mainly in the public sector, may be able to get personal loan forgiveness and have it not count as cancellation of debt income, however, do not confuse this with student loan forgiveness. It needs to be a personal loan, but there may be some circumstances where personal loans could be forgiven tax-free. Another circumstance is if the lender is a private lending institution and they forgive a personal loan as a gift. Both circumstances are not common, but they do happen on a case-by-case basis.