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I'm self-employed and received a CARES Act grant from my county, not a PPP loan. Do I report this as income on my taxes, and if so, where? Should it go on my Schedule C?

This grant does not need to be repaid. I do not have to report how the money was spent. I think I need to report it as income, but am not certain. If I do need to report, does it get listed with my business income on Schedule C, or should it be listed somewhere else. I'm a single member LLC, filing jointly with my spouse.
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3 Replies
DawnC
Employee Tax Expert

I'm self-employed and received a CARES Act grant from my county, not a PPP loan. Do I report this as income on my taxes, and if so, where? Should it go on my Schedule C?

Yes, it will get listed with your business income on Schedule C.  You should receive a form from the county or whoever issued you the funds by the end of January.  

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glori313
New Member

I'm self-employed and received a CARES Act grant from my county, not a PPP loan. Do I report this as income on my taxes, and if so, where? Should it go on my Schedule C?

I am in the same situation and received a 1099-G.  I cant figure out where to input this in Turbotax.  Box 6 has the amount of the grant but in Turbotax it does ask or give you an option to fill in box 6.  

Would love some clarification!

I'm self-employed and received a CARES Act grant from my county, not a PPP loan. Do I report this as income on my taxes, and if so, where? Should it go on my Schedule C?

A taxable grant is entered as 

  • Wages and Income
  • Other Common Income
  • Other 1099-G income
  • When you specify taxable grant, then Box 6 will appear on the form.

 

 

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