The money is borrowed as cash. Not a income or gift.
Tax Fraud / Tax Evasion Attorney
No. Income is acsession to wealth. By borrowing money, you have increased your liability by the exact same amount of money that you have received as a loan. However, I would properly document the loan on a loan agreement with an interest rate and terms of repayment.
Borrowing money isn't a taxable transaction unless the lender subsequently forgives the debt. Hope this perspective helps!
A loan does not create income to the borrower. That is the general rule.
The above is general legal and business analysis. It is not "legal advice" but analysis, and different lawyers may analyse this matter differently, especially if there are additional facts not reflected in the question. I am not your attorney until retained by a written retainer agreement signed by both of us. I am only licensed in California. See also avvo.com terms and conditions item 9, incorporated as if it was reprinted here.