I am a sole proprietor and received a grant attached to my EIN for my small business. Where can I enter the 1099G information for my EIN?

CARES Act grant money reported to you on box 6 of Form 1099-G is money that is entered under Other Common Income as Other 1099-G Income unless it is specifically excluded from taxability as PPP or EIDL advance funds.

 

From the left menu, select Federal, which will open to Income & Expenses. Scroll down to find the Other Common Income section and select Show More.

 

Select Other 1099-G Income and enter your details, identifying it as a taxable grant.

 

For more information about PPP or EIDL related to COVID-19, go to SBA Coronavirus Relief Options for more information.

Hi Kathryn,

 

I really appreciate your help. I am on the online version of TurboTax and there is not an option under "show more" for Other income that allows to select 1099-G. The only options that are available are below. I am needing this to show up to properly show under my business as I am needing to apply for the PPP for the first round.  Is there a way this can be fixed for the online version?

 

Hi Kathryn,

 

I really appreciate your help. I am on the online version of TurboTax and there is not an option under "show more" for Other income that allows to select 1099-G. The only options that are available are below. I am needing this to show up to properly show under my business as I am needing to apply for the PPP for the first round.  Is there a way this can be fixed for the online version?

You can select the Uncommon Income on the screen you selected, and then enter your grant information:

 

ok. I was considering that. My concern was the IRS not immediately recognizing it as reported correctly since I did receive the 1099-G. 

Even if you did not receive the form, they may have received their copy. It is always better to enter the information correctly than to wonder if you should change the entry to make the IRS notice it.

Hi yes, thank you for your reply. I am looking to enter it exactly as I have it. The problem is I do not have the dropdown for a 1099-G under self employed and it is under my EIN ,not my SSN. 

Follow the steps below to get to the input screen in the federal interview section of the program.

1. Select Income & Expenses 
2. Select Self-employment income and expense
3.  Under the screen titled Your 2020 self-employed work summary, select Edit to the right of your business
4. The next screen will say Here's your business name info.  Under the section titled Income, select Add income for this work

The next screen will say, Let's enter the income for your business work.  Your screen should look similar to the example below.  Select Uncommon income to add your information.  You can also select the question mark on the screen to the right of the categories for additional support. 

 

The next screen will be titled Tell us about uncommon income for your business work!  Proceed to enter your description and amount here.

 

 

As mentioned before, since the 1099-G was issued under the business EIN, you will need to report it in this section.  Retain your 1099-G for support if the taxing agencies request support or additional information.  As long as you are able to prove you reported the income, your return will be supported.